Even so, Lit is widely used to build very complex apps (Beaker, as you know, Photoshop, Reddit, Home Assistant, Microsoft App Store, SpaceX things, ...).
Property bindings are just as ergonomic as attributes with the .foo= syntax, and tag name declaration has rarely come up as a big friction point, especially with the declarative @customElement() decorator. The rest is indeed like a faster less proprietary React in many ways.