I was thinking the same thing but on seeing your reply, I would probably agree.
Instead, I'd love an optional (as usual) "Defaults" toolbar button, with that setting remembered per Project. At least for choosing the default Recording but other folks may like Document/Midi as well. So a Defaults dialogue from that button, with the chosen defaults also remembered per Project, as I imagine they are already (I never checked).
I'd love to see perhaps the initals of the current project up there too. I'm often having to back-up to check. Ok, several times a week.