For component libraries, that makes a lot of sense. You re-use snippets of HTML that is styled a certain way. No need to set up another re-use layer using CSS.
I expect the next level of utility-first CSS will do away with the CSS file altogether, and start baking the resulting styles directly into the HTML, so <div tx(['font-bold', 'font-16', 'font-purple'])> would be transformed by whatever you use for HTML rendering into <div style="font-weight: bold;font-size: 16px;color: purple">. That would complete the circle and cut away a lot of complexity.