I think it's better to think of "Web components" as "Custom Elements" they really aren't components in the way you think of components in other frameworks (which on the web introduced them first), and I think most of the dissatisfaction with them comes from trying pretend they're an alternative as they just aren't. Components in almost every other framework are efficient (efficient rendering runtime) and expressive (…
Elements in shadow root elements can be updated more or less the same way as elements in light doms with incremental patches and updates.
The main beneficiary of supporting shadow root and local stylesheets would likely be hobbyist projects looking to minimise their build step, as local stylesheets give you much of the benefits of many of the tools that handle localising a stylesheet to a component at build time.
Unfortunately, I haven't really seen numbers on this but I can't help but I feel the way styles are bundled by most modern bundlers (with global styles and minified classNames) will likely outperform a bunch of disparate components with their own individual local stylesheet with its own request (even with http2 or whatever). So again I can see why the framework maintainers may struggle justify spending time and energy on this.