The IR 200 is stealing the show for an amp in a box plus reverb and major EQ. You are not going to get a smaller form factor than an FM3. The only thing you would be getting is just a lower price if Fractal did this. You would be losing all the things that made Fractal great to begin with.
The IR 200 is a stripped down GT 1000. It is cheap and you would have to add thousands to a pedalboard to have all the effects the GT 1000 has.
If you are a kid with no money, I do get it. At least you can afford an amp and make some noise.
I actually could do a show in a crunch with the IR 200 and a delay pedal for a small gig if needed. I have a Tone X for pedalboard gigs and can have any amp live with that. Is good as it sounds, I hate it. It has cheap click switches and Leveling is buried and a pain to level. With a midi controller, why not use the FM 9. You have all these influencers on YouTube pushing stuff that is not necessary. They are not giving honest reviews because they are paid. Every new thing that comes out, they are pushing it, good or not.
It is good to have people demo products. It is not good when they overhype it. Musicians are gear whores.
I know, I am one of them. I hate buying stuff and then turn around and sell it because I don't like it.
I have lost hundreds buying and selling.
To me Fractal's best unit is the FM9 with the FC12 Controller. I would love to have the power of the Axe 3. This was the best buy I ever made. The Axe 3 is better for recording, but the FM9 is better live. It just needs the power of the Axe 3.