Web Components are already here and they're part of HTML5 itself. What does this do to differentiate itself? To me, at first glance, it looks like a dead project already.
Yeah, once I read his explanation web components immediately came to mind. You know what the status of web components is in the major browser engines?
Natively, on most evergreen browsers, mutation observers and a limited shadow-dom on chrome canary. The polymer project gets you all the way though, check http://www.polymer-project.org/compatibility.html.