It's interesting to remember that Facebook started out as a PHP application. I imagine that Facebook's original tech stack closely resembled the stack you're recommending. And scaling that stack is what led to the creation of React. If you choose to build a rich user interface (like Facebook or Netflix) on top of that stack, you will likely find yourself creating abstractions to manage the complexity. Those abstractions will be equivalent in their utility to React, Ember, Angular, etc.
I agree that a website does not always need or benefit from a React or an Ember. Small dynamic behaviors behaviors can be implemented with less powerful tools. But, the power of your abstractions will need to scale with the complexity of your UI behavior. That's why, at a certain point, the abstractions provided by React _are_ the right choice and jQuery is not.
Regardless, the slide featured in this tweet does not comment on React working or not working well. As they say in a reply to that tweet, the application still loads React and renders React components. What they are presenting is an interesting optimization that has to do with the unique performance constraints of Netflix's UI.