Last year I also started playing around with WASM and building a terminal emulator in it. The idea being if I can manage the terminal emulator then I can add more features / friendlier UI/UX that might compliment non-CLI users who have been tasked with using the terminal; while power users still have access to the features of the $SHELL in their preferred terminal emulator. There is definitely overlap between what I'm doing and TermKit.
The idea of doing it this way means I'm still leveraging the foundations already in common use. Opinions about whether they're ready to be deprecated aside, it's the standard everyone already uses so trying to displace that would be an even big hurdle than even just trying to displace Bash. But at least if the standards are reused and extended it does mean people can pick and chose the items that work for them rather than forcing them into an "all or nothing" type scenario.
I'm not far down the terminal emulator route yet and it's definitely a task that is bigger than the time I personally have to commit to it. So I welcome any time and/or support anyone is willing to donate.
I should write a blog post about this at some point too....
The shell (in it's current form): https://github.com/lmorg/murex (docs on Github too but also accessible via https://murex.rocks )