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But this still doesn't explain what pretty markup does that's different, just that it doesn't use indentation.

Seems like maybe all that's different vs. normal HTML is that it doesn't have angle brackets.

Yes. But it truly doesn't have angle brackets. At the moment, the features that make it different from pure html are its feature tags and config tags. For example !doctype, meta viewport are built in. Stylesheets and javascripts can be attached with feature tags. Such as style and javascript, respectvely. It may seem that is not that much for now, but as more features are added it will be handy and rubust. One of the goals are to deliver a better development experience.

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