Have been away for the weekend so only got to this one this evening. A real challenge but I think I am there. One slight issue. I can draw a closed outline through the omitted letters which gives a satisfying equlilateral shape and confirms the lateral thinking but I can’t see how it “spells a related phrase”. Quite late now and after 3 hours of hard slog I am a bit tired. It may jump out at me in the morning.
Also I can’t see the relevance of the title. I don’t quite buy the explanation earlier in the thread.
Nonetheless I agree this is one of the best puzzles this year.