I’ve just spent a few hours trying to find out why a handful of Midi notes on a track where ‘flanging’ during playback. I suspected the cause was probably duplicate notes somewhere but was unable to see them when editing. As a last resort I turned to the Project Browser (luckily still present in N12) and was very pleased to see that I could find and delete the duplicates within the Project Browser. It is not something I have used very much, if at all, in the past but it certainly saved my bacon today. In my view one very good reason to NOT remove it from Nuendo.
If it has to go, I would very much appreciate something similar to replace it in future Nuendo versions.
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This is one of the main reasons why I stick to NU12, too. 
My view about the Project Browser, is that only so much time will go by and people will start wanting functions that are only available in a “browser”, component but I think many of those people will not actually know the history, of where such a feature was present, in its’ initial incarnation.
I basically moved all my projects to N13, but before that I went through every last automation and tempo node, for each song as well as notes to be sure there were no duplicates or nodes that did not fall on a zero crossing.
What I am saying, in the first paragraph is, I don’t believe SB will let too much time go by before starting to think about creating some kind of internal browser for any and all types of information within Cubase and Nuendo, since if they can standardise this, then the future is assured, in terms of having a file (interchange) format, say between …xml and .cpr/.npr as well as an editor for the .xml data.