To the OP: I'm not understanding why you want to revamp martial arts or damage scaling on monks. In the early levels monks can be extremely competitive in terms of damage. I think they are the only class that has the option of two attacks per round at level 1, and you can do it using a quarterstaff wielded 2 handed for 1d8 then a bonus action unarmed attack for 1d4. At level 2, they can spend a ki point to make up to 3 attacks in a single round, again 1d8, 1d4, 1d4 and all of them get the attribute bonus to damage, which again monks can choose as dex or str. By 5th level they have 2 or 3 attacks per round and upwards of 4 all at 1d6 or 1d8/1d8/1d6/1d6 if using a quarterstaff two handed which keeps them up there with rogue sneak attack damage. If the monk goes to 6 they no longer need to rely on a magical weapon if they use their fists, but they can still use magical monk weapons which gives them a bit of versatility in how to manage the party equipment.
Which brings me to point two: Monks actually have good synergy with some other classes depending on how you build them. In the example above, a 6th level monk specialized shadow is a prime option for multi-classing into a rogue assassin. Assuming the game lets us hit 11 (and because they mentioned they were looking at raising the level cap above the earlier stated 10 I think we can feel safe in assuming that) A 6 shadow monk/5 rogue assassin has equal damage as an 11 rogue assassin all other things being equal ( 11 rogue sneak attack 1d8+6d6 + bonuses 6 monk/5 rogue sneak attack 1d6 + 3d6 + bonuses, 1d6 + bonuses, 1d6 + bonuses, and potentially 1d6 + bonuses for a total potential of 7d6 + (bonusesx4). Lets assume the rogue has a 20 dex and a +2 rapier for +7 damage and the monk has 18 dex and a +2 short sword for +6 damage. Rogue average damage will be 4.5 + 21 + 7 = 32.5 while the monk average will be 14 + 3.5 + 3.5 + 18 = 39 or 14 + 3.5 + 3.5 + 3.5 + 24 = 48.5 using a flurry of blows. Even if the rogue dual wields it will only add an average of 3.5 (and magical damage bonus if any on the second hand weapon) damage for a total of 36-39 unless you multiclass into a class that has the two weapon fighting style. Assuming you took 1 level of fighter or ranger to get two weapon fighting style you would get an additional bonus of +5 to bring the total to 41-44 depending on the magical bonus of the offhand weapon if any.) Monk splash fighter can be useful for second wind, dueling style, and action surge. I can attest that monk/warlock is a great combo in table top, and even a splash of warlock really helps monks giving them access to one of the best ranged cantrips in the game and access to things like a Staff of Power which gives AC, saves, and + damage and shares the same rarity level as +2 magical armor.
And that brings me to the third issue with itemization, and that is monk itemization is only as bad as the programmers make it. Yes, monks can't wear armor, but they can wear bracers of armor, cloaks of protection, and rings of protection which are all rare or uncommon items, +1 armor of any kind is rare. Monks can use a any simple weapon that doesn't have the two handed or heavy property and short sword with their martial arts ability, and that includes using a quarterstaff as a two handed weapon. Yes, monks have a lower AC cap (I think a standard monk can hit 24, and a monk/(warlock/wizard/sorcerer) can hit 25) than some other classes but that is true of other classes as well, but monks are possibly the only class that can use the dodge action as a bonus action. And amongst non-spell casters one of the places monks shine IMO is their options in the action economy. They have offensive, defensive, and utility options for their bonus actions and Open palm monks add utility to the offensive bonus actions. They have incredible movement speed and the ability to run on liquids or vertical surfaces at higher levels; built in slow fall just increases their movement options. And honestly deflect missiles is a fantastic reaction option for defense and offense. A monk using deflect missiles can catch a dwarven thrower and keep it or even throw it back at the thrower as a weapon as was ruled in the latest Sage Advice compendium.
Of course this is just my take on 5e monks, because they are vastly different than the monks from earlier editions. YMMV
