I also really like them but I fear that they are a bit magical, i.e. they solve a problem in a way that feels very simple but might end up blowing up in complexity once you look at them from a certain angle. Like when debugging certain state issues. They are very nice until they break in unexpected ways.

I feel that React is like.. 20% of the way to programming nirvana, and hooks are like 24% of the way, but it's very much just another step on the path. They're an inelegant expression of an elegant idea, which class components couldn't express at all.

I haven't really tried it but I would expect that Elm has solved at least some of those problems already. It feels like hooks are (another?) attempt at making react more monad-like but without having the type system to back it up.