The challenge here is the execution -- it's Java-heavy and unwieldy compared to <a href=...>, but the basic structure is there and allows for interesting interleaving of Activities from one app into another. I haven't yet seen a lot of discussion or adoption of Open Intents, but I think it's an interesting approach. It does, again, seem to suffer from an inheritance of Java's heaviness, and that may be a fatal flaw.
http://www.openintents.org/en/intentstable
Whether this approach succeeds in sustaining rich-client apps as web apps mature remains to be seen, but I do think it points to the fact that OP's criticism was a concern in the minds of Android's developers at the earliest stages.