Adobe Launch is used to write code. It should have the ability to store that code in a standard software repository (Git). This should include at least custom code, but would preferably also include files representing non-custom code (preferably in JSON format). Nearly everything you can do with the GUI you should be able to do by cloning the repository, editing files, committing changes, and pushing them to the remote repository where they can be reviewed and deployed. Users should also have the ability to provide an external repository location to be used by Launch on a per-web-property basis.
IDE: Though Adobe Launch does a great job of hiding complexity, it is really a sort of IDE (Integrated Development Environment). I am recommending a series of improvements, all labelled "IDE", that re-envision the product based on this fact.