True, the Theremini is NEVER, ever going to measure up to an enhanced, or even a stock Etherwave Standard, or B3. IT HAS PROBLEMS! Yes. I grant that. It's volume loop has latency, the visual appearance SUCKS!, The volume loop looks die cut, or laser cut from plate aluminum, and is not removable. The screen is ultra tiny. It's made of PLASTIC, for god's sake! It gets unstable if left on for 10 hours.
When it was demoed in my studio several months back I very nearly tossed the Moog rep out on his ear with that abomination flying behind.
The sad fact of the matter is, it's unfortunately what most of my potential students are gravitating towards due to the cost. When it was in such rutty condition back then, I absolutely would NOT provide instructions using the Theremini. However. Even with it's current issues, it's at least been brought to a condition it's now "actually" playable enough a student could learn with it, and I feel I should at least learn everything there is to know about this thing if a student comes to me with one.
I'd prefer my students use Etherwaves, or B3s. However, as an instructor I have to be prepared for the eventual probability more of my students will be using them. I'm not happy about that, but thems the hazards.
Coalport, I'm willing to bet you dumped yours prior to 1.1.0. No matter, it's gone now, and as a professional, I don't blame you for dumping it. You don't teach, you just play, and you should only be playing pro grade gear.
I can tell you that even in the short time I've been working with the Theremini, I know that no amount of work I do with the presets will ever miraculously bring the Theremini up to pro grade, or even intermediate status. At best, I can at least make it a bit more worth while for those who are unable to afford a better instrument.
Were it not for the 1.1.0 update, and having tried a Theremini with the update in person, I would likely not have bothered. It is what it is. an amateur, entry student grade, to lower intermediate grade instrument at this point.
It's got a very long way to go, but it's now "good" enough for teaching with, at least. Not what I'd want to be seen performing with outside of the studio, or lecture hall, though.