I would love to see a Nexus 4 reboot. Not all of us want larger and larger phones. I had a Galaxy Note for 2 years, it started to drive me nuts, couldn't fit it in a lot of my pockets, especally with a case on it.
I have had 3 Nexus devices, and one play edition device. I really dislike non-pure android devices any more, so I don't want to have to buy one. But with +Motorola Mobility
making the new Moto X and G an inch bigger each, and Google making the new Nexus a whale of a 6 incher, that leaves me with limited options if my current Moto G Play Edition bites the dust. In fact, I think I might be limited to the Moto E at the moment, or a used Moto X gen 1, Nexus 4, Moto G gen 1, or Nexus 5 (barely small enough) on ebay. But the problem with the Moto E? Crappy camera compared to flagship phones, and no Selfie camera.
I'm just throwing this out there, there might still be a market for people who have tablets that they do most of their media stuff on, and just want a phone that can: fit in a shirt pocket, take good pictures (not DSLR quality, just GOOD), play music through headphones, make calls, send text messages, and that's about it. Oh, and pure android.
Movies, Youtube, Webpages, Books? I reach for my Nexus 10, not my phone.