If you put the nav buttons onto a combo joystick/value knob, you're really not too far from Helix:
Helix has dedicated "save" button, "home" button, Two page buttons, a button titled "action" and then some ancillary dedicated buttons for bypass, amp tone stack, and preset list (I think?). I don't think the "exit" button here is at all confusing. I think you could keep this knob/button layout just fine, but sorting out the "wait, why do we have separate enter, edit, and push-button-on-value-knob functions and what do each do differently?" is the only bit that's kinda confusing. I think repurposing the "enter" button as a "grid" button that takes you straight to the grid, killing the edit button, and making the push-the-value-knob do what the edit and enter buttons used to do would clear up most of the confusion and in terms of button count/complexity be no different than Helix really.