What is the migration path from the current paradigm to this new revocable system with a secret master private key?
I guess I should back up and validate that assumption: In this scheme is the master key kept secret and only used to derive new keys? If yes, what is the migration path from a single nsec to this hierarchical system?
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This would just overlay on top of your existing nsec. No upgrade required. You could just derive a bunch of child keys and put your root nsec in a safe. Clients would have to know how to get the xpub - likely published in an event tag, derive the root npub, validate the child npub that signed the event and then attribute the event to the root npub.
Lots of work to be done, but I’m pretty sure now the core mechanisms work.