There are many shortcomings to HTML, yes. "Just replace it" is not the right answer. It has never been, for the same reasons that you don't "just rewrite" an old code base. There's more value than the naked eye can see.
(Oddly, the web has just the example for that - Netscape 6.0. That was a from-scratch-rewrite, and oh my, was it painful)
Accessibility. Simply by using canvas is like throwing away all human-machine interface support stuff which your OS/browser provide and reminds me times of arty Flash pages with awkward navigation.
I mean, back in the 80's we had limited RAM and maximum filename lengths and stuff, so maybe there was a practical benefit.
By "trend", I more mean the trend of continuing to use these sorts of weird numeric contractions of words instead of just saying "localization" or "internationalization" or "accessibility" now that we have computers that can handle big words without breaking a sweat.
There was a much bigger benefit. Try writing those words on a whiteboard, repeatedly, and see what that gets you :)
You can argue till you're blue in the face, it's an established shorthand by now. And shorthand has a point - I don't see you writing "random access memory" instead of RAM either.
Once upon a time, RAM was called "core". We should go back to that. I digress...
I'll concede it's easier to write on a whiteboard, but for other situations, it seems rather silly (and very different from the concept of an acronym or initialism).
There are many shortcomings to HTML, yes. "Just replace it" is not the right answer. It has never been, for the same reasons that you don't "just rewrite" an old code base. There's more value than the naked eye can see.
(Oddly, the web has just the example for that - Netscape 6.0. That was a from-scratch-rewrite, and oh my, was it painful)