These companies are not even trying to re-imagine the shell, just the terminal you use to interact with it.
Terminal is just the program that shows text. New terminal emulators (not all new terminal emulators, but the ones mentioned in comments, the ones op asked about mostly) are way more than just programs showing text, they are also replacing/re-imagining the shell, or re-imagining the way you interact with the shell; thay are wrappers around the shell (and more).