In order to have native-quality text editing on the web, you need to use the DOM. Using the DOM limits what kind of UI you can have.
It'd be nice to have a web layout tool that ties it all together and lets the designer use familiar tools like pivot, anchor, align, etc. - even if it exports some proprietary combo like react + styled components.
No doubt that's what FramerX and friends are after... so I guess there's progress, but it feels like the web just needs an overall rewrite to get out of the legacy cruft that came along with making static pages dynamic.
To render text nicely you need to know the geometry of the screen so you can anti-alias properly. A canvas goes through a series of transforms that work fine for images but garble text.