I think part of the problem with MPVOs is that everyone has a slightly different take on what their intended use is. Most people will agree that the point of an LPVO is to be able to be fast at close range whilst being able to push out max range (especially with a 8x or 10x top end) but that the optical compromises are heaviest at the top mag. To me an MPVO is basically that flipped on its head where it is usable at close range/low mag but optimized for use on full mag at longer ranges (or for more precise shots). I think of them as the appropriate optic for a contemporary "SPR" (not a clone rifle), ie a precise .223 , that can be carried practically (ie not heavy game gun) who's intended use is to make hits on smaller or obscured targets (ie not full-size IPSCs) out to 600, maybe 800 yds and that can be pressed into use at close ranges (generally with an offset red dot).
What I'd like to see is a low end of 2ish and a high end of 10, 12 or 14x. Locking turrets (or capped windage to lower weight/cost), total length around 12" and weight below 25oz. I'd like it to be ffp with an illuminated Xmas tree reticle but with only the horizontal and vertical axes illuminated (not the whole tree). Out of these preferences, the least important are length (as it will be on a rifle with a ong handguard hence plenty of place for a clip-on) and bottom end mag (the offset rds is the primary for short range so even a low end of 4x isn't a deal breaker).
On paper, the Mk5 2-10 with the new reticle seems like the best fit for my criteria, but I've yet to get behind one to see. Also, I've recently come to want more than 10x as a top end for this kind of optic. I came to this realization recently when trying different optics on a new build (.223 gas gun with 20" SPR contour barrel, 75s around 2750). I had a Razor G3 1-10, PST G2 2-10 and LHT ffp 4.5-22 on hand to try. I started with the 2-10 as I already knew it outperformed the 1-10 at 10x based on previous testing I'd done (despite the weak points of the 2-10: 26oz weight, sub-par reticle and exposed turrets) and didn't find myself at a disadvantage at close range as I was running an offset Acro (which I'd run with the 1-10 anyways for night use). The only downside relative to the 1-10 was the extra 4oz and 2.5" of length. What I was kind of surprised to find was that past 500, in less than ideal light, with partially obscured targets, targets in the shadows or with snowy backdrops, 10x just wasn't quite enough. Maybe better glass would make all the difference (the PST G2 glass is ok but not Razor level or anywhere near "alpha")? This made me look hard at running the LHT ffp 4.5-22. The more I thought about it, the more it made sense: it is only 3/4" longer than the PST G2 (13.3 vs 12.6"), is 4oz lighter, has better glass, better reticle, locking elevation and capped windage. Another optic I'd happily run (but no longer have) is the NF NX8 2.5-20 which hits all my points but weight. All this to say that I think the lines are super blurred between the ideal MPVO and really good crossover/compact scopes, based on your individual criteria and where you're willing to compromise which is probably a big reason that no one has yet released the ideal model...