Yeah, if we want latency added to literally every action... I understand that what you're saying is a possibility, but I sure hope it doesn't come to pass.
I miss the internet I grew up with. The one before all the money arrived to ruin absolutely everything.
In that context, just attaching an interactive window to a remote running process (as long as it can stream faster than whatever is your minimum acceptable framerate at your minimum acceptable resolution) is literally indistinguishable from running locally. So I frankly do hope that comes to pass (as long as I also get to keep being able to build a desktop computer for working offline).
Native apps have won over web app ecosystem, plainly and simple. WASM will not change things even a bit to root causes of people deciding to use native apps over web apps.