If this convention can be used in React, what is the "no-framework framework"? What's the point?
React is not "just one extra param". One thing it does and your "no-framework framework" does not is figuring out what needs to be updated when the state changes. Add some console.log statements to your components and you'll see that clicking on any button on the demo page results in all components being updated, causing update of DOM nodes. How can this possible work in a complex web page? I click on the "Close Modal" button, and every single DOM node on the page gets updated, from the menu bar down to each and every button?
That's the very basic thing that React does. I am not talking about anything else, like component lifecycle or hooks. This not-framework doesn't even begin to approach what React does. If you don't want the "big-ass framework" for whatever reason, there are Inferno and Preact already. Both are great projects and have all the things a developer expects from React replacement.