Edge was already in a difficult place from the beginning --- a new browser engine in a new UI that tried to be yet-another-Chrome-clone. They alienated both their IE users, which hate the UI changes, and weren't very successful in pleasing web developers with their new browser engine either. I would much rather have the classic familiar IE UI with a new browser engine, because the UI is the only reason I use IE over other browsers (which are increasingly turning into approximations of Chrome's UI.)

There used to be many browsers. Not so long ago, it was mainly a choice between Chrome, Edge, Firefox, and IE. Now it'll be more like a choice between Chrome, Chrome, and Firefox.