Short Answer: Yes! Web Components are ready for production.
Long Answer: it really depends on what kind of project you are working on. for a small to medium size product web components are perfect. but if it is going to be a big project, then due to lack of resources and support, you will have to build many things on your own which are readily available in other frameworks.
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Do you think that web components is ready? i mean do they have what is required to make whatever a dev might need. or they still need impovments?
Short Answer: Yes! Web Components are ready for production.
Long Answer: it really depends on what kind of project you are working on. for a small to medium size product web components are perfect. but if it is going to be a big project, then due to lack of resources and support, you will have to build many things on your own which are readily available in other frameworks.