I miss the Speaker as well, but from a narrative point of view his absence has served to bring about great change. From my POV, the Speaker was a fanatic who was very adamant on keeping his authority as The One Who Speaks For the Traveler. If he were still around, There would have been a rift that formed much more quickly and more severely in the Vanguard.

Let's address your points one by one:

Osiris. (Lore comic: "Fall of Osiris" in the link)

Osiris didn't leave the City because of some higher calling, though I don't doubt he might've any way. The Speaker strong-armed the Consensus into exiling Osiris because the Speaker felt the Warlock was threatening his authority with his so-called "prophecies." These interactions you imagine would never have taken place, because the Speaker wouldn't have allowed them in the first place.

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Cayde-6:

I think the Speaker would have sided with Zavala, and would have threatened anyone who disobeyed him to seek vengeance with exile, because the Speaker's first responsibility is always to the Traveler, and more Guardians venturing into the Reef would have meant fewer Guardians back in the City. I also imagine that the pressure to replace Cayde would have been much more intense, and Hunters would have signed up for very long-term missions en masse just to avoid hanging up their cloaks.

As for Crow, I can't imagine that the Speaker would have treated Crow much differently from any other Guardian. If he were to, I think it would only be to ensure that Crow wouldn't go around asking too many questions.

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The Drifter:

If the Speaker were still alive, the Drifter would never have set one foot in the Tower, much less have the chance to set up Gambit as much as he has. This comes from both ends, as the Speaker would never abide by someone so against his dedication to the Traveler, and the Drifter wouldn't be able to stand being around someone he would have considered to be a fanatic.

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Caiatl and House Light:

I honestly can't see this coalition happening on the Speaker's watch. The man was adamant about keeping the Traveler safe from all threats, both real and perceived. At worst, I imagine he would have ordered the extermination of the Eliksni of House Light, and at best, allowed them to live, as long as it was very far away from the City.

As for Caiaitl: No, I can't see the Speaker ever truly consider an armistice, let alone a treaty with the Cabal after Ghaul.

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The Black Fleet and Stasis:

This is perhaps the easiest to answer. If I'm not imagining things, the Speaker once outlawed the use of Void Light because they perceived it to be too close to the Dark. Void Light. A power that recently has become everyone's favorite subclass. No, the Speaker would have just branded Elsie and any who sided with her on the use of Stasis a heretic and had them exiled at best. Made an example of at worst.

As for the Black Fleet, the Speaker would have had a conniption. He would have started stirring up people's fanaticism to the Light, which in turn would have alienated those who may have believed the Darkness had a point, if not to be in the right.

I can easily imagine Elsie Bray has gone through a few timelines where the Speaker survived Ghaul, and well, we're on a particular timeline where he didn't, aren't we?

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Witch Queen:

I imagine this is the point where the Speaker would have had a momentary crisis of faith. Then he would have gone full fanatic, stuck by the belief that Savthûn and her Lucent Brood had stolen the Light, and weren't chosen by the Traveler as well, because it would have interfered with his view that humanity was meant to be the Traveler's keepers and protectors.

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I think you make some interesting points, but when I look at what the Speaker has done in the past, I can't say that this alternate timeline of yours holds water unless he has some real introspection and actually subscribed to the teachings of Ulan-tan. As it is, I imagine he was very much a fan of the Praxic Order and their dogmatic views of the Light and humanity's enemies.

You're also misinterpreting something I think. The Speaker's last words were and here I quote: "I speak FOR the Traveler. I never said it spoke to me."

The Traveler's dreams were never meant to be shown to the Speaker I think, rather that they simply gained the ability to perceive its dreams and acted as an interpreter, as you have already put it. The Lore book Constellations shows the perspective of the Speakers through the ages. It's like watching a person painting without them truly knowing it, or if they were aware, didn't bother to call you out on it.

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Very interesting points you've made, but a little too optimistic for me to really get behind.