Once you get at that point, the dev experience starts to look a lot like traditional desktop client-server app development. Except desktop apps are built using components instead of templates, components that combine rendering and behavior into one encapsulated entity that you can treat like a black box. There's nothing preventing a web app from using that same architecture. In fact, ExtJS does just this.
But I don't think it stops there. I think we're going to get meta-configuration languages like mxml to send the layout of these components to the javascript environment, which will, essentially, mean that we're building another browser inside the browser. And so all software evolves until it can render a web page, including web apps.