It might be the next big thing, but Svelte doesn't solve the problem outlined in the root of this subthread: nobody has any idea what the fuck is going on.
I like Svelte, the simplicity of programming in it is great, and it has several advantages compared to React. But I have no idea how it works, past a point of complexity. Like, yes: I can run the compiler and check out the JS it generates, same as I can do in React. For simple components, sometimes the compiled code even makes sense. But when I introduce repeated state mutations or components that reference each other, I no longer know what's going on at all, and I don't think I'm alone in this.
Svelte might be an improvement in ergonomics (and that's a good and much needed thing!) but it does nothing to answer the obscurity/too-far-up-the-abstraction-stack-itis that GP mentioned. The whole point of that is frameworks/abstraction layers that tell you "you don't need to understand what's going on below here" are . . . maybe not lying, exactly, but also not telling the whole truth about the costs of operating at that level of both tooling abstraction and developer comprehension.