I may be wrong in the moment, but I base my arguments on trends. Processing power, storage costs and bandwidth are always improving. So human productivity should always take priority over efficiency as time progresses.
I'd vote for a real Web 3.0 based on first principles like declarative and data-driven programming, idempotence, immutability, one-shot scripting (perhaps even a Turing-INcomplete DSL) for initial render without side effects (like CSS variables but for HTML), dynamic element loading with something like HTMX, secure server-side includes, distributed databases using Paxos/Raft, even distributed computing with a real Docker that provides an actual secure sandbox and repeatable builds of untrusted secure/private code (maybe with something like homomorphic encryption). I can go on and on about what real (not phantom) tech looks like. And it looks nothing like SPAs.
Also I think a lot of people recognize the need for this stuff, so ideas aren't the problem. The problem is, always has been, and always will be funding. In fact, my single greatest disappointment about the modern web is that stuff like advertising and eBay got coopted so there was never a viable way to make enough residual income to live on after the Dot Bomb around 2000/2001. The closest things we have are Uber and donating plasma. So we have a generation of highly-effective programmers spending the most productive years of their lives at a day job making rent, which is why rent increases. Hustling without understanding that the hustle itself is the failure when viewed through this lens.
Blah I dunno why I write this obvious stuff anymore. It just ain't never gonna happen. It may as well be impossible. Or I should say, it may take another 20 years to get here, and I just don't think we have that long anymore.