It seems probable to me that some actual application GUI toolkits will target WASM+Canvas and finally give us good-looking, capable, better-performing, easy-to-work-with GUI application development in the browser, yes.
HTML's pretty bad at the use case it's been smushed into, and hacking a semi-reasonable GUI toolkit on top of it in Javascript is bound, no matter how good the effort, to be slower and less pleasant than something designed from the beginning to be used for heavily interactive application GUIs.
The two big risks I see are: 1) the tinkerer-friendliness of the Web is, very likely, going to take a big step backwards as WASM use spreads, and 2) there's a chance we'll end up with 100 different WASM GUI toolkits and they'll be super-trendy and all the job ads will demand familiarity with at least one of them, but not a single goddamn one of them will handle accessibility and various edge cases half as well as plain HTML or actual native development does (to be fair, Javascript that writes around limitations in HTML by re-implementing parts of it often has the same problem)