Vb5 should look what its competitor is doing. I think I like xenforo direction because it feels new and modern using it.Even though the default style is not anyway near to modern. But there are many stuff we feels very nice. Look at its pagination when there are too many pages
here . There is an arrow, when you click it animates. These are cool stuff. vb5 just look solid and stiff. no hover effects nor simple animation.
It's stylevar properties is a leap 10 year forward- vbulletin no near to xenforo. Template system is good. Code is very clean. But vb5 template editor has line number feature which is very good.
vbulletin also has to look back at vbulletin.org as main modification place. If you look at xenforo -resources. you can sell stuff too for paid add on - xenforo forum you can do everything. And you don't need to ask people to go somewhere else to get customisation support like vbulletin does. It's like asking someone to leave. There is no good asking mod question here in vbulletin.com go to vbulletin.org instead. Or in vbulletin.org. you cannot advertise or sell product in here you stupid. These all have to go.
If you don't want to buy xenforo to be vb6. Then follow what they are doing to grow their community and software.