Does it really? What would you hold up as an example of a powerful web app with significant usage?
All the major players these days (like Facebook) get the overwhelming majority of their traffic through their native mobile app, not through their web app. The web's primary stronghold is in publishing platforms (news, articles, etc...), which are not really what you'd call "apps" and indeed they are the one thing the web was actually built for and good at - static(-ish) content.