As much flak as I get for saying this, I personally feel like we already have a "toned down" Bayonetta who retains her flexibility, agility, and combination of guns and whips as her primary weapons (including the heel guns) on the roster.
Maybe it's that both are targetted by the same "kinds of fans," the way that the new Rocket Heels function like a toned down version of Bayonetta's classic heels, and the fact that at some point I swear I saw ZSS added with a mole/beauty mark in the same place as the Umbra Witch.
In fact, I remember a great old joke when she was first revealed that "Because her Final Smash won't be putting the Power Suit back on, she'll do an Umbra Climax in which her suit will morph into a torso-up version of Ridley that will wreck havoc on the stage."
Edit: Yes I know Bayonetta has a WIDE arsenal of weaponry, the most a Platinum Star protagonist has gotten excluding The Wonderful 101. But the ones that are most predominant are her guns and occasionally the whips.