Only physical products that need to be shipped are deprecated (e.g. we're taking out the shipping portion of products).
Emojis can already be used in names. Themes would be the way to go to change any font coloring, etc... Theme customization will still be around in V5, it just is changing. Ultimately, the HTML will be more robust so customizing via CSS will be easier than V4. Wouldn't get too scared about any changes. Customizing your community theme is still a big part of V5.
As Marc mentioned though, anything that isn't in the software, you're welcome to create a Feedback topic for 🙂 .