My vote is going definitely to rendering. This is where Terragen lags behind the most in my opinion. All major renderers are going GPU or hybrid CPU and GPU, and not only simple path tracers (like in Terragen), but also more sophisticated spectral ones with extra wavelength dimension to calculate..
The devs even have an option to adopt free of charge existing renderers like AMD Prorender, Blender Cycles or Luxcore render, instead of translating existing code to CUDA or OpenCL.
As for denoising, OIDN (Open Image DeNoise) - which is CPU based, is much better then GPU based Optix. OIDN takes maybe around 5 seconds to denoise 1080p image with 6-core CPU. Optix takes maybe 1-2 seconds on GTX1080.
You can play around with these two and compare them for free in Blender 2.90 Alpha. You can actually test it on a render from terragen.
Implementing denoiser such as OIDN in Terragen should be relatively easy, as this is or can be independent from the whole rendering process, with most wow effect. It is already available to us for free in blender for example, but it takes extra few minutes to set it up.
Anyway, I hope a lot of new potential Terragen users will see this thread, and seeing the future is bright, they will be finally tempted to make a purchase, which in turn brings the company more money, which hopefully translate to investing in more developer manpower, and by 2022/3 we might have a beta build to test and see some GPU in action.
Exciting times ahead. Can't wait.