Wayne - your comments here seem premised on the idea that Medallion of Mystic Mouth was seen as too powerful, and that's why wands went away.
That is not why wands went away.
I don't even think that was an element of discussion in why wands went away.
The history of wands is something like:
1. Originally, wands were multi use consumables. The difficulty and fiddlyness of tracking multi use consumables proved logistically challenging for DMs (and maybe for transmuting).
TD decided a change needed to happen after 2017.
2. First iteration: Wands were to be replaced by something called "spars" which would function similar to wands but not be consumables. This idea never made it out of design, perhaps due to very vocal objections from some druid players who perceived they were being excluded from something. (If memory servers, there were to be common, uncommon, and rare Spars, and Wizards would be able to use any spar, Druids to use uncommon and below, and clerics to use common only).
3. Second iteration: Wands were not consumables, but could only be used once per room (however maybe you could bring multiple copies of a wand into a room, or use multiple different ones).
This was basically the "spars" idea, but just called wands. This lasted one year in 2018.
I don't think it's clear why this approach was abandoned. _If_ it was abandoned due to power concerns, the concerns were almost certainly at the normal level of play, where owning 3 or so rare tokens would mean many lvl-0 offensive spells were essentially useless (for characters with a spell bonus of 0), and maybe several lvl-1 offensive spells.
4. Third iteration: Wands are consumables, but can be used any number of times per room. This lasted from 2019-2021.
I don't know why this form of wands was curtailed, but again, I don't think it had anything to do with their raw power. If I had to guess, it related to having a distinct gear category that takes up spaces on the token sheets each year in design, has unique rules, wasn't desirable by token-a-holics, wasn't clear to new players, etc., etc..
5. Fourth Iteration: Mystic Staffs.
Introduced in 2022, Mystic Staffs seem to be the spiritual successor to these iterations on the Wand idea. Unlike wands, their damage is easily modified by the zillions of ranged damage boosting tokens. Also unlike wands they require a slide to hit.
Anyway - I'd be happy to see wands return but I don't think it's realistic - to support wands in token design you have to allocate a few slots on the token sheet each year to them, and they aren't desirable for high end builds (since their damage isn't modified by things that boost ranged or spell damage), and at the low end they introduce new rules for new players to think about which don't add much, if anything to the player experience while drawing them away from their core class abilities.
It is silly that both Elf Wizard and Human Wizard 5th level character classes have boons that relate to mechanics that are no longer supported for those classes - that should be fixed.