Templates make it harder to find and debug issues. They have extremely little tooling to give assurances about what they're compiling, whether the syntax is correct etc. This requires you to build massive, flaky test suites.
I'll take react and typescript any day over even one tenth of that.
Either you write big test cases covering everything, or you live with the knowledge that very unexpected things can be passed in to your methods without you getting notified.
And then there's javascript ...
I do prefer working with typescript than with python but I still rather work with Python than with django templates which are way worse.
By contrast, if you have a problem in the python code, the exception stacktrace will point you to exactly where the problem originates. If you add a `breakpoint()` call in the source before the exception point and run the request again, you'll get dropped into a live debugging repl
The tooling is fine and almost always lets you know where you are breaking stuff. Also, comparing react tooling with it is not fair, it is a much modern ecosystem that has pitfalls of its own.
I have been writing Django professionally for 10 years and React + Django together for 4+ years, so I really know what I am talking about here.
It has the downsides you mention (the error reporting is okayish I think). On the other side, you can write html directly (no classname, etc), and there is no transpiling/build tools/server-side rendering to add. String templates are also side-effect free.
For spa I would prefer React (with Typescript): for a request/response old-fashioned app, or something like htmx/hotwire text templates can be very productive. I see your point though.
Edit: extra points.
I haven't used it extensively, so I can't speak how it compares to Django in larger setups.