To me no, it's not. It works well for some of the use cases, but if all you needed was offline rendering of your js in a build step to generate static html then you really didn't need all that js to begin with. islands work until they don't, and a lot of stuff gets inlined too. I guess it's fine if you stop caring about the final build.
I feel a lot of the hype around Astro has more to do with vite than anything else. And there yes, without doubt, vite is amazing.