But honestly, at this point function-style JSX/TSX is hard to beat in terms of API. There's basically no DSL to learn (`x-for`, `x-if` and so on), you just use plain old JS with all of its existing capabilities. And it's just a JS function, in come props, out comes HTML. You technically don't even need JSX to do this, it's just syntactic sugar over plain JS function calls.
Sure, React is bloated, its full API has huge surface area (that you almost never need), and there are some icky parts (state, side effects, basically the whole hook system is ehh and doesn't fit the functional paradigm).
There's definitely room for improvement there, but I think it will probably not come from React, but some other JSX-based framework (Preact and SolidJS suffer from some of the same issues).
In any case JSX is going to be super hard to beat IMO.