I'd rather see DPS than the current hodgepodge of technologies, but that's part of having given up on the whole original concept and accepting that we're deep into the mire of the web as an application delivery system. For such a thing, sure, DPS would've been great, and we'd have gotten applications and Flash from the very beginning.
Marrying that to a hypertext-document-system is another deal entirely. We're moving away from that, too, but at least there's enough of the corpose visible to contain the raging beast of SPAs and animations.
But, well, "based" leaves some room, and maybe something between HyperCard and DPS would've been the best of both worlds.