This proposal was discussed at length and using a v2 collateralized vault tied with the ren-bridge for direct BTC transfers in the UI was heavily rejected
This was just 11 days ago so it might be too soon to bring this back up for a vote even though it has been revised. I am not an expert on if this is the most optimal strategy for this vault so I will let others comment on that. I am of the opinion that since we already have a BTC vault, I would like to see vaults already passed for implementation produced first, SNX, and the ETH vault opened for deposits, along with boosts enabled, before we add another BTC vault to the list of things to do.