With the development of Universal Forms, we are looking at how the current form modes are supported in the existing product.
At this time we are still planning to continue using functions to detect form modes. This is so we are able to support migrations but also give a lot of flexibility in the rules engine.
We do not plan to bring different layouts to Universal Forms at this time. As we are introducing multipage to Universal Forms, we do need to figure out how a multipage form will be printed and is under consideration.
I will update this feature when we release an Advance Preview of Universal Forms if our position changes based on feedback.
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I have an instance where there is a monetary column on the account that should only be visible on a new and edit form. The display form should not show the monetary amount. I couldn't figure out how to apply the "visible" setting to multiple views.