I agree that we should take both Chinese and US markets. What we are thinking is that effect is a must in games. So we should provide a solution either officially of non-officially as soon as possible. Then we can tell guys that we can do that, the game XXX used this, such as that Particle Universe was used in Torchlight. Though it is imperfect we can improve it latter. The Torchlight is convincing. I am sorry that you can try the editor in windows, if you want a game like this.
On the contrary, it also works if make one our own or use libgdx's editor. It will take much efforts to make our own editor according to cocos studio, and it will take a few versions to get a stable version, some users may can not wait for it. Using libgdx's file format may be not convincing as Torchlight. Additional reason it that another company using our 3d feature is using Particle Universe. It is an example for others to follow if they succeed.
In fact, we merged the particles to the extension. We can alternate it easily when we have a better editor. We can move the particle to the core when we find a best solution.
What you said is the thing I thought before. And Yingtao had decided to drop it from v3.5, we will think of a better solution for it.