Live imagery data is increasingly becoming a reality in the modern world. This is not just capture of EO data or drone data, but processed raster data and time-enabled data such as weather radar where update frequencies are decreasing to single digit numbers of minutes.
To support maintaining this live data on a single endpoint, a means of quickly updating the published service is required. This is supported to some extent by mosaics, but could be more easily managed by the addition of an Image Layer View similar to the Feature Layer View. This would allow a concept similar to the hot swapping technique available under that and published in this blog:
Swapping Layers: A great way to build and maintain your feature layer
Swap the source of a hosted feature layer view—ArcGIS Online Help | Documentation
While the name Image Layer View might not entirely make sense, it would provide consistency in the product stack. There may be other use cases that could be extended in this, such as the ability to publish different endpoints for a single published Image layer that has different defaults for time extent, RFT, mosaic rule, etc which could be easier for content searching and curated restful services.