I get this viewpoint from a software architecture level, but that is also effectively the death of the open web. When every website is an opaque app, even often requiring a client-side optimizing compiler that builds an arbitrary binary in order to load (WASM), we can say goodbye to things like search engines and typically also hyperlinks. The rise of social media has already balkanized the web a lot, where almost all content is locked behind a login screen.
This could be what we want, but I can't help but think about what we've lost.