1. You browse without JS. You're a power user. You already know why the page doesn't work. A courtesy message would be nice, I guess, but it seems fairly pointless.
2. Should my HTML and CSS still target IE7-friendliness? IE7 users still have more market share than actual humans who browse without JS. They get treated like lepers in the Year 0, and we all seem to be okay with that.
3. Well-designed use of JS can help distribute computation load that might otherwise all fall on the server. A very contrived-to-be-important (but fairly common) example of this is scaling/cropping an image before it's uploaded. Or, even though I have some other reasons to hate on SPAs, page rendering itself. The no-JS user is more expensive to serve than the typical user.
4. Except for some extreme cases of JS reliance, search engine spiders are a head and shoulders more accommodating to developers' choices than no-JS users are.
I just don't think that making accommodations for no-JS power users, who are not plentiful, and know full well how to turn JS back on, is valuable. Making JS bundles smaller and making them load more efficiently? That's a worthy cause for sure. But people who browse without JS at all are extreme outliers in the 1st world, and all of them know how to toggle it back on. Developing countries? If I were trying to serve those users I would do the research and make choices accordingly.