Projects like ultralight[0] also show there's even much higher room for improvement. That, and libraries like React starting to leverage WASM, and SharedArrayBuffers sharing memory and potentially moving all application logic off-thread (worker-dom is a cool project, I was able to get a medium-size React app fully running with it).
Finally, you could fork Safari and remove quite a few features. A lot of legacy things, simplifying the DOM quite a lot, etc.
If someone did that, I think we'd have a really ideal setup for cross platform apps. A much faster, lighter, smaller bundled app that supported 99% of modern web apps out of the box.