Do you see a new DOM being realistic? Not a sarky comment. I ask because I don't see the problem with a new <bellend> tag. Meaning that in 2023 browsers start having a html and a bellend tag representing an end to legacy and a line to the future.
One silver lining of the otherwise (IMHO) mostly-bad situation we have with centralization of browsers is that it is conceivable through our standards groups that the major browser vendors agree to experiment with a replacement.
From my perspective the problem is even in the name itself, the D in DOM stands for document, which is exactly the problem. The DOM was never designed as an application framework but we've shoehorned it into that role.