I have this idea that if they split off WebAssembly, WebGL and WebAudio into a external format for applications it would be easier to implement than a full browser.
I've gotten pretty far doing exactly this (only-those-apis browser in Node): https://github.com/modulesio/exokit Not released yet, but there's basic Windows, macOS, Linux, Android and iOS support. Contributions welcome!
But that's not what my idea is. My idea isn't really a browser. It's just a separate format/mimetype (.app or .game) for a app runtime.
Small projects could implement it. We can have it embeddable as a object in browsers. Clients other than major web browsers (Gopher, Dillo) could embed it. Embedded devices (Roku) could include support for it. It could even be used in a physical media like SDcards or DVDs.