Now that the dust has settled on the new Steam Library design, along with various other UI overhauls like the Properties page for games (and the recent SteamPal console leaks) - Valve will be fixing up the Steam Downloads page now too.
The Downloads page in the Steam client hasn't really been touched for a long time. It does the job, sure but it could be a lot more useful. That's set to change, although we don't know when, you can test it yourself right now if you go to "steam://nav/library/downloads".
It seems it's supposed to look something like this (thanks to Pavel Djundik of SteamDB on Twitter):
Weirdly though, it's not the same for everyone.
Trying it myself sort-of gives me it, but not quite and this was tested across both the Stable and Beta versions of Steam. So they're clearly not quite ready to roll it out just yet. This is what I see which has a few adjustments but not quite the overhaul as seen above:
Hopefully Valve will finally add a "Download All" button, so we don't have to keep pressing download on individual items to queue them up. Although, that might only be an issue for people like me, who set Steam to only download between super-late hours to prevent it just auto updating everything all the time. As that seems like the only way to have a bit of control over downloads.
Apparently they're also working on a new settings page too, although not easily accessed.