If AMP not handed over to the W3C, I don't think we can or should call it a standard.
[0] https://www.eff.org/deeplinks/2017/07/amid-unprecedented-con...
I don't think Mozilla was super fond of EME either, but couldn't afford to be "the web browser that can't watch Netflix".
I definitely do remain wary of these groups being forced to rubber stamp things, I do feel Google exerts way too much control even in that space, because due to their monopolies, they can just implement what they want, and sometimes the W3C has to accept it or be irrelevant.
The whole point is that AMP works on all major browsers as they exist today. Waiting for a new standard and then waiting for Apple to implement it is a non-starter.
Google's always only supporting competing software just as much as absolutely necessary
On the other hand, using the web package standard as the ancestor suggests would currently trap you to Google.
But I will say I think your wood shed idea won't work.
(Though I am very open to hearing more about it's implementation.)
Where you can oppose the adoption of AMP and work on improving the rest of the ecosystem so that AMP has fewer compelling applications.
That's going to be hard to fix in an HTMLLite sorry of way.
It claims to be an open standard; we should participate (or try to participate) in the open standard.
The problems AMP solves are real. They will be solved one way or another. I'm hopeful they can be solved in an HTMLite sort of way, not a whatever-Google-does sort of way.
So let's think about how to improve AMP, change AMP, evolve AMP, until it becomes something else and something better than even its creators thought. Destroy it from the the inside.
EDIT: I know AMP has been terribly approached, and it might be nice if it just disappeared. I'm not claiming otherwise. But it's not going to disappear the same way proprietary LiveScript didn't disappear. I don't want to just scream at walls; we've been trying that.