We've been hearing the same pitch for literally years. Heck, I've made some of them myself: "This is it, people! Native apps have been rendered unnecessary!"

No PWA competes with a native experience. Not performance wise, not usability wise, and ultimately for the developer not even development wise. It may still make a lot of sense, and there are a lot of arguments for web apps, but the enthusiasm in this discussion seems disconnected from reality.

Indeed, right now we're seeing a big uptick in Instant Apps on Android -- go to a webpage and it actually loads a native app -- and I fully expect the same to appear on iOS.

There is a bit of app exhaustion, though I'd say it's much more significant on Android where users have been taught that it's user beware. It certainly isn't a technical limit, though.