Version 1 behaved this way. A glance at the dashboard showed you the status of pretty much everything you chose to set up, albeit with a huge amount of the available screen real estate occupied by white space and a stupid graphic. We were told back then that the wasted screen area was a placeholder for something more to come… it didn’t.
In 2.x, we got SHM, which seems more unfinished than the never finished version 1.x. Clearly SHM is focused on emergency situations (burglary, fire, flood), and SmartThings made the decision to abandon displaying the true status of your smart home from the dashboard.
Wished I had a better explanation, but I don’t think there is one.