It would be awesome if I could see how many times each tag appears when editing, perhaps with the option to sort by number of occurrences, so it's easy to prune / organize them. Perhaps this number could appear in the red area below?
You would lose all the beautiful colors, but you can do this with linked record fields. Convert that field from a multiple-select field to a linked record field, and then in the other table, add a field of type “Count”.
Although, to keep the beautiful colors, you could have both fields (multiple select and linked record field), and then create an automation to keep the multi-select field in sync with the linked record field.
Ha, I hear you! By the way, you could group your records by that field, which will automatically give you a count for each group. However, it will group multiple selections together as a unified group, so it won’t give you exactly what you’re looking for.