Maybe it is because I'm a bit too deep in the React ecosystem at this point, but once you start trying to do any reasonably complex task, this seems like it would be significantly harder to reason about. Also, unless I'm misunderstanding it, this revolves a lot around the backend returning HTML to do backend-as-frontend, which given my previous experiences with the concept, I wouldn't want to touch with a 10ft pole.…
Please don’t reinvent things.