This wouldn't even be hard to fix. Give me a modal button on the keyboard for cursor mode, like how we've the numerical keyboard mode. When pressed, shows arrow-keys, ctrl-arrow-keys, pageup/pagedown, home/end, a delete (not backspace) key, a shift-toggle, and a button that shows the longpress copy/paste menu.

There. No need to reinvent the wheel, just do the same stuff desktop does but with the actual keys desktop has.

The spacebar-drag trick is cool, but it's not enough.