Take away templates and add Django Rest Framework and you have a very capable platform for building large CRUD APIs complete with models, permissions, serializers and so forth.

Is it the best solution when you just want to stream data down a socket? No. That doesn't mean it's useless for many other things.

If I'm going down the SPA route I'd just build the frontend separately using ember-cli or webpack or some other "native" solution and forget any asset pipeline.