I think this exaggerates a bit and that doing so isn't in the best interest of anyone. Application frameworks are designed for building applications and doing so "at scale" (which in this case means lots of humans working in the Bay Area, rather than lots of users or anything else).
Web Components aren't. They're for extending HTML with custom components. That's fine. Especially when you consider that people tend to over-use application frameworks when they don't actually need them.
But WCs won't replace frameworks for everyone, nor should they. And the frameworks will evolve on top of and around them. That's also fine.
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