I suspect what will doom any such project is that it won't be designed for the primary usecase that made HTML/JS succeed: teenagers with nothing more than Notepad.exe and a search engine. It will be made super elegant and efficient and no one will use it because it will take more than three lines to make text appear, and a typo will result in a bunch of errors. HTML/JS are garbage languages and web standards are cobbled together trash, but their strength is in their utter simplicity and in how forgiving browsers are in interpreting them. If you don't have that, you've already lost.