There is a comment on the MSO post We’re lowering the close/reopen vote threshold from 5 to 3 for good
Other sites can have whatever threshold is most appropriate for them, @gnat – Shog9 Dec 3 '19 at 17:40.
Should we lower the threshold of close votes from five to three?
Apparently some of our prominent members had mixed feelings about the topic last December - maybe those feelings remain or have changed. I figured it should be captured here in Meta - for posterity.
Bonus: Since there are a few Monty Python fans here, this comment would apply:
Finally we are no longer living in sin, for on the matter of close votes it is written: "three shall be the number thou shalt count, and the number of the counting shall be three. Four shalt thou not count, neither count thou two, excepting that thou then proceed to three. Five is right out." – Jeroen Mostert Dec 3 '19 at 21:38
Update Dec. 17 2020
See this MSE post
We're working on it. Nicolas and I are both assigned to this project to investigate the benefits of this change. We got a late start because there was a mix-up in having this project worked on in November but we're working on it. ...