the average low hour PPL does not get the opportunity to stay current
Indeed true. One merely needs to keep currency a separate issue from the possession of the paperwork privileges, because the same comment can be made for an IR holder too.
Unfortunately there are many lapsed IRs too, in the private pilot population; in fact I think very few non-owners will keep an IR current. I don't think I have ever met an IR holder who is on the rental scene and whose IR is valid. Even most instructors who once held an IR have let it lapse, intending to renew it when they get the airline job.
I reckon the IMCR will live on, in some equivalent form.
The funny thing is that, pre-1965 or so, a basic PPL could fly in IMC. Some did get killed though.