This is HTML! But with tags that you can create, and pass values to, and do things in the browser. It actually empowers developers who don't grasp javascript by encapsulating it.
We love HTML, too. That's why we're so excited about web components--it brings the power back to HTML (and DOM) instead of in some parallel universe in script.
Probably because people keep ignoring what "T" stands for in HTML and keep trying to morph it into WAML.