I can see your problem. The point clouds work well, but only to an extent. When your whole scene if full of green dots because of all your trees, bushes, grass and plants. It all becomes a bit of a green porridge that bog things down, so I usually just hide my layers with vegetation when navigating the scene or working on other stuff.
Display full mesh works pretty well in many cases, when one just needs to peek at or preview something. But there are situations where a custom preview mesh like in v-ray (sorry!) could be useful. But it requires some work to get all your assets fixed that way, especially if you want a pre-rendered image on a plane.
When we started using 3d scanned people a bunch of years ago I found it bothering that the regular "mess of tiny triangles" in v-ray pretty useless. Even if you crank it up, you spend polys in the viewport but you still can't make things out. And too few triangles and you might as well use a box as preview. And then came the new and "improved clustering" which remedied this to an extent. But it destroyed the uv's! So I started making my own custom previews, I recorded a script of me copying the mesh, adding a pro optimize modifier that keeps uv-coords (!) and then use that mesh as a custom preview for the proxy. This has the advantage of keeping them really low poly, but I'm still able to make out what the people look like. But because of the nature of vegetation this method isn't really applicable and a quick side view render slapped on a plane for a tree is much better. I've actually pondered how to automate that. There's probably already scripts out there for this, but one idea is to use Design Connected's Connecter and it's ability to batch generate previews of meshes.
And another thought is if one could use a substitute modifier together with corona proxy? Maybe you could get any preview you want, and still have your proxy?
These are just my thoughts on the subject in case any one finds it interesting or useful. I really don't think it's a problem of large magnitude or priority in Corona at the moment.