When the Icon view as added to LabVIEW, it was a decision to make this option be default for the benefit of new users. While there are definitely strong opinions on which is better (icon or terminal), overall the feedback from new users globally are that icons are preferred until they reach a certain LabVIEW proficiency and then the environmental option in Tools>>Options is turned off. The decision to have icons as default is still valid for our users. The ability to turn this off and that this option preference will be carried over via ini file if you upgrade LabVIEW appear to be logically solutions. The issue though of converting existing icons into terminals on a larger scale than just one at a time is something R&D is currently investigating.
The default LabVIEW environment option should not show terminals as an icon.