I don't know about timeframe.
In terms of security, there is always a tradeoff. Layer 1 is pretty secure in practice in large part because the functionality is relatively simple and relatively static. That has obvious limitations. The security and stability issues we've had have involved portions of the code and changes that aren't simple or static. So I would actually claim we're already building too much bespoke functionality into layer 1, but it is certainly debatable.
RE: Why I set my witness HBD interest rate parameter to 7%