Parts of React. For me the state management is a core part of React, and as far as I can tell this doesn't cover that, just the rendering part.
I'd also point out that the state tree (setState) is a part of React, and plenty of apps are just fine being built using only setState for state management (no redux/flux/mobx).
Here's a library that combines custom elements with VDOM rendering: https://github.com/skatejs/skatejs
Personally, I didn't read it that way (nor did I down vote you), but given your follow-up, I can see how some might.