Flutter is similarly building a canvas based rendering system for the web, called CanvasKit.
I think it's neat that folks can skip the conventional web technologies & hypertext & use the web to create arbitrary systems. But I also think this is quite a malignant & user-de-empowering & tragic development for the web. The DOM has been extremely powerful as a common language, that users can make use of directly & via extensions & scrapers. Stealing this fire back from the users, renegging on the web's promise that it's the user's agent, for them to use to navigate the web as they like: that's a great & sad regression.
In my opinion the web is worthwhile & useful. Bypassing it, treating the web like thin-client, a way to push pixels in people's face, via some auxiliary rendering process, be it local (webassembly) or remote, is a terrible usurpation of user's agency. Projects like Flutter's CanvasKit & others are a great danger to one of the few piece of technology that has enabled users some level of control & freedom, the web.