This is the basis of web components and of all popular frameworks. In this model, the only use for a plain <div> is content that doesn't need special reusable layout or behavior. Everything cool gets promoted to a custom component.

What makes this awesome is that no future version of HTML can make your custom component stop working; it's supported down at the "bare metal" level.

I wrote an article [0] a couple years ago about how and why this came to be.

0: https://levelup.gitconnected.com/getting-started-with-web-co...