A minimal DRM example isn't much more, by the way:
https://github.com/yuq/gfx/blob/master/drm/main.c
And this does a lot more stuff that you want, like what connectors (think HDMI or LVDS internally) does my hardware have, which of those have displays connected, what modes are supported by those displays, and it can be very easily extended to do 3D rendering.
Beyond the HW planes, there is lots of stuff DRM enables that you simply can't do with /dev/fb but absolutely want, like true VSync synchronized rendering.
I'm not sure why you'd need to replicate anything complicated like wayland. You can use DRM API just like you'd use /dev/fb0, it just has more options/features.
As for cairo, obviously it's a heavier solution, but also more featureful, optimized and output neutral.
Also, the whole clock is basically 100 lines of fairly straightforward code in all its glory. How much would a DRM/Pango/Cairo soultion weight?