At some point with your own renderer you have to implement a large part of the DOM, styling and rendering layers. And why should a text editor team have to do that?
I think a lot of teams would be better off by learning how to make faster web apps, where there's a subset of HTML/CSS that approaches a tree of GPU textures with layout and style on top. Do things like: use fewer elements, very simple CSS selectors, `contain: content`, `contain: strict`, or `content-visibility: auto` everywhere possible, use shadow roots, use a fast vdom-less template system, and a framework where each component is its own render root, use virtualization for large lists...
If you do that you can also ship a fast web app. And as VS Code shows by popping up in more and more sites, being an actual web app has some very nice distribution and reuse advantages.