I've heard this sentiment a lot. The reality is that UI libraries are inherently difficult to tree-shake. You can't run a library that can be used to produce an infinite range of outcomes and expect a tool like Rollup to whittle it down to just the bits you need (source: I'm the creator of Rollup).
Code is reused. While the compiler will output 'standalone' modules by default, it can also generate modules that share code between components — the zero-runtime part is about generating abstraction-free DOM manipulation code rather than having a complex virtual DOM reconciliation or data-binding process.
> rather than a new beautiful finished paradigm
Nowhere does it claim to be finished. If anything, it's the start of a new approach to building UIs.