Users love it. Users hate installers. Users hate updates. Webpages have neither.
Companies love it. Makes subscription access apps easy to sell. Makes it easy to target all platforms and keep costs low.
Seems very flippant to completely dismiss the dominant trend in this industry over the past 20 years as simply wrong.
I agree the technologies are not well suited to this purpose which is why I avoid frontend at all costs. But powerful web apps generate a lot of value for a lot of people, myself included.