no, it doesn't. Having multiple independent implementations is a PITA, but that's why you have testing & validation labs along with standards. Take windows graphics driver labs... They test for pixel perfect compliance of output across hundreds of vendor implementations. Contrast that to the web where it took a separate group outside the w3c to embarrass browsers with the ACID2&3 tests. Now separate browsers look a lot closer in output.
Devs are trying to fix these ecosystems: why does react use a virtual dom? Why do we need css resets? Why do we need js shims and polyfills? Because its the only way to come close to normalizing the platform.
But have you ever wondered why you expect no two browsers display the same image? Postscript met that bar and is just as old as the web. Why didn't the w3c base the web on device independent coordinates instead of this confusing and unpredicatble layering of partial scalars and "angle subtended by a pixel on a 96dpi surface at a nominal arms length from the surface" crap? No one could have made a reference implementation off those requirements, much less a consistent verification & validation suite.
And no offense to TBL, but HTTP didn't even survive first contact with netscape's vision of shopping carts. Cookies? An elegant solution? Or simple a new hell of tunneling client/server state over a supposedly stateless protocol. HTTPS everywhere requires long lived sessions as the basis?!? No wonder people are heading towards web sockets, etc. webapps are client/server apps -- HTTP was always grossly misapplied to them.
Webdev is hard, not because I'm building beatiful bridges in the sky that are "good enough" poetic balances of constraints while coming in on time and on budget... Webdev is hard because of all the underlying assumptions I constantly have to check and recheck because I can't rely on them as an ME would (or hell, even as a backend J2EE engineer would). This is why some of us lament that people don't know the stack all the way down, because we have to in order to solve real problems. Every abstraction leaks, but hell, web abstractions are flipping sieves!
No, the thing that "works incredibly well" is not the web, but whats under it that lets us make so very many mistakes and yet keep on trucking.