I think that they should start by using a steel or alloy frame.
It should have the grip angle and basic shape of the 1911.
Go to a single-action-only trigger, with a thumb-safety, and a grip safety, for cocked-and-locked carry condition.
Use a single-stack 8rd mag.
Start using a JM Browning barrel link system.
Eliminate the polygon barrel, and use a normal rifled barrel.
Make it in 45ACP.
No, seriously, I think that a Glock in 22LR would be an excellent idea.
And the grip angle needs to be normal. A grip angle isn't the right place to be different.
Eliminate the polygon barrel, and support the chambers better to eliminate the kabooms.
And they need to have some kind of "flagship model", like HK does.
They've done fine with the cheap pistols, let's see what they can do at the $1000 price range.
Edited to add:
And add some styling!
Just because it is plastic doesn't mean it has to look bad.