Indeed, taken to the extreme a Pyodide-based jupyter is available[1] which uses the same underpinnings as pyscript. It might not be perfectly efficient but it's totally usable, especially considering it moves the compute from a server to the client.

At this point the main issue I've seen is the slow load time (not a problem for jupyterlite but is for pyscript). Hopefully this can improve with time and regardless I think there are a lot of cases for pyscript to remove the need for server-side code and the associated maintaince.

[1] https://jupyterlite.readthedocs.io/en/latest/