tldr: we use a richer format to preserve state on refetch, but this format can be turned into HTML for first render.Our underlying transport is not exactly JSON but something like "JSON with holes". It's basically a JSON with placeholder string values like "$1", "$2", that later get filled in the future rows. This lets us have breadth-first streaming where we can show some content as early as possible, but always have intentional loading states.
The choice of JSON is because we need to be able to
* Pass component props (which are JSON) to Client Components
* Reconcile the tree on refetches so that state inside isn't thrown away
HTML doesn't let us have either of these two. However, starting with a richer format, and then converting it to HTML for initial render, works.
Since we can also do this at the build time, you could build a website that does all of this work at the build time, and turns it into HTML. However, as you might expect, it won't be interactive without JS.