We are where we are because there (sadly) hasn't been a reasonable business case to advance REST API documentation beyond the point of badly-documented OpenAPI schemas where the main utility is in generating type-safe API wrappers across different programming languages.
With MCP, there is at least a name to a new movement to build self-describing APIs, as with the advent of LLMs there is now enough of a utility for it. All other pushes into that direction have died out ~10 years ago.