A 1.0 would need to address a large enough surface area of the web to be useful. There's also a discordance between hand-coding "friendly" HTML/CSS and what would be exposed in a WYSIWYG tool. Further complications are all the new and old bugs in browsers.
That said, every day I was working on Hype 1.0 in early 2011, I would nervously check Hacker News for a "Show HN" post for a HTML5 animation app that would steal the thunder; luckily none came. This is even more surprising given Hype exports were mostly compatible with Internet Explorer 6 -- such an app could have been written long ago.
Another side is that programming and web is no longer novelty so common people prefer to just pay for someone else for their time rather than learn anything on their own.
Most people prefer to pay their auto mechanic, plumber or electrician even though most of people are capable of fixing many of their problems just by following simple tutorial and common sense. Programming is no different here: it's just easier or more time efficient to pay to someone else.
I absolutely don't buy this.
My father, a high school English teacher, could barely run a spreadsheet that I set up for his grades--something that basically everyone can do today without blinking.
And even he could use Hypercard.
It's the tools, not the people.
Likewise I rather spend my time in Unreal and Unity, than trying to feel superior while doing everything from scratch with SDL.
Why is it that with all our computer power, we somehow can't create authoring tools as good as we had in the past?
HyperCard, DreamWeaver, Visual Basic 6, etc. all seem to be dramatically better for common people (read: not career programmers) than any modern equivalent we have.