I think it was pretty clear from the start that Galio's VGU didn't really have all that clear of an identity in mind, certainly not one that related to his old self. Prior to his rework, for all of his problems Galio at least had a clear niche, in that he was this cross between a warden and a battle mage, who could hang near the back line and output utility before stepping out to taunt the enemy team. He lacked mobility and general access to hard CC, at least compared to most other tanks, but in exchange for that could access utility, range and damage. Post-VGU, however, he retained a smidge of utility and some range, and kept his damage, but also gained two dashes and two AoE knockups, and generally started playing like a diver with extra CC, rather than a proper tank. It's impossible to really fit him into a niche at this point, because he's far too loaded and lacks cohesion on many of his effects (his W magic shield and taunt have no correspondence to each other, for example). The fact that this is the kit that redefined the new direction for tanks in League I think should make it no surprise that the tank class as a whole has suffered from many similar problems. It's also clear that Galio was redesigned specifically to become a competitive darling, at the cost to his original core fanbase, and even just the general player population at large.
Because of this, I agree that Galio needs a rework, though I'd personally rather have him go back to his roots, and become a warden/battle mage hybrid, though one with much more counterplay and many more options than Old Galio. I personally think it would be much more interesting to have a tank who legitimately soaks spells for his back line, and uses the absorbed magic to empower his counter-attacks, than to have yet another boisterous bruiser kind of character who just so happens to have a magic shield and MR scalings. I also agree that his R needs to change, and personally I feel it would help to remove the AoE knockup, and instead replace it with his W taunt. Following this, I would also want to rework his innate, W and E, so that he'd be able to dispense utility and turn the magic damage he absorbs into some kind of offensive power he can use later, which should also allow his Q baseline power to be diminished. Overall I don't think a big, hulking statue should be particularly mobile, and I feel he'd become both more accessible and less frustrating to deal with if he had less crowd control and mobility overall.