Without changing things, a double-click on an MP4 launches Windows Movies & TV app, which offers this sort of view without much at all in the way of controls: Even better, it plays a zillion different audio and video formats so if you get an MKV, MOV, OGG or some other weird video file, VLC can handle it. Better yet, the open source VLC media player is available for quite a few platforms, including Mac, Linux, Android and iOS, so you can standard on it everywhere! Grab yourself a copy from if you don’t already have this terrific program on your computer. There are quite a few video file players available for Windows – a quick check in the Microsoft Store confirms that! – but it’s really hard to be the zero cost, ad-free VLC program. It ended up too big, too complicated, too bloated and so… ciao, bella! You’re right, though, the replacement Movies & TV app is as bare bones as it gets, which might be good for some percentage of the Windows 10 audience, but for people who are a bit more technically savvy, it’s annoying.
From a support perspective, simple is good, and I think that’s what happened with the demise of Windows Media Player. Microsoft is constantly trying to find the sweet spot between offering an overly simplified interface with too few controls and offering complex user experiences that offer tons of power and capabilities, but at the cost of user confusion and problems.