The approach we've taken in our anti-framework is that the model is your data (and the code you use to manipulate the data), the view is your HTML/CSS ( not a special templating language -- actual HTML), and the controller is automatic for simple stuff and custom for complex stuff. So the big example at the end of Mithril would, for us, be something like (we implement binding as a jQuery extension) $('.display').bind…
You're not using actual HTML, you're wrapping dom elements in your own special functions. You've made a templating langauge, like it or not.
The advantages are significant. First -- you have to know HTML. Second -- all the code that works on HTML works on HTML.
We use data attributes to make the binding work. The data attributes are a "template language" if you will, but it's not breaking HTML (and if you read our attributes they make sense without much documentation).