Regista is an Italian word for producer/director i.e. maker of plays - used for Pirlo originally. Why it's caught on is anyone's guess.
Just fashion I guess all modern position must have Italian or Spanish names Great discussion btw guys found it very interesting
Personally, I want 3 midfielders who are capable of both attacking and defending. I don't mean they have to be experts in both for example - M'Vila, Martinez and Busquets are great examples of DM's who are defensive but can start attacks. And the two midfielders ahead of them should more attack minded but can patrol the space and press well from a defensive perspective. This is my ideal scenario - players being versatile, tactically aware and can contribute at both ends of the pitch.
Also, the DM isn't always the deepest midfielder - as we've seen with the likes of Gerrard and Pirlo. There is a negative stigma attacked to the term DM in that they sit too deep and kick f*ck out of players. The position/role is far more advanced - look at Martinez, M'Vila, Busquets and Scott Parker(!) as the examples ...
I think its because the role has evolved over the last few years. It used to be a case of always having a defensive midfielder in the team to stick a foot in and win the ball back. Gattuso, Sissoko, Hamann, Gilberto Silva, Makelele,, Van Bommel, Davids etc. They had little to no footballing ability or effect on the game in the final third but they added a balance to the team. Tackling is becoming redundant in today's game so managers have ditched these type of players and swapped them for players who can actually dictate play from deep and are good on the ball e.g. Pirlo, Busquets, Alonso, Gerrard. And 'tackling midfielders' have been replaced by high energy ones like Henderson, Ramires, Vidal, Marchisio, Schweinsteiger (though he could do both, he's such a good player), Fernandinho etc.
An interesting way to view it, Lucas is faulted for needless fouls but in fact half are guys just dying for any contact to flop, and defenders are just as bad
As you say, the key word is balance. You need some players who are creative and you need some who are disciplined.