In the end, the new implementation added some new (maybe unique) features, like pressing CTRL-W in a shell prompt and having the text being replaced by some proper command to be executed with enter.
Here is a quick glimpse of what it looks like the terminal:
$ find the top 5 largest files ever committed in this git repository (-> hit CTRL-W <-)
$ git rev-list --objects --all | git cat-file --batch-check='%(objecttype) %(objectsize) %(rest)' | sed -n 's/^blob //p' | sort -rn | head -n 5
I'm curious to hear feedback and maybe someone else does find it useful as well.