There's also the scale-benefit that you can hardly throw a ball without hitting someone who's done Wordpress development, if you do need development work, and Wordpress-focused agencies are abundant, if you'd rather not hire to get the work done. Not true for any up-and-coming competitor.
Designing a system—even an extensible one with plugin and theming architecture—that is a lot better than Wordpress isn't a small task, but is also far from impossible and wouldn't take some super-genius team to accomplish; however, that's the easiest step on the path to actually displacing Wordpress in the market.
We've all met the client who wants WP and nothing else. And there are countless times we've rolled a clean new solution out, but the client goes back to WP.
I have seen value in hybrid approaches, a custom app written in some other framework for complex requirements, and a WP instance and connector for content, so the client is comfortable.
VPS is I think better solution anyway. However for many people it is overkill to have VPS just to run some simple website.
Did you purposely seek out a different page, see a mouse animation, and then announce to everyone that you did not read further down THAT page because you were distracted by an animation? It seems like a petty thing to announce, but OK.
Another thing is that Wordpress PHP API uses very little OOP. It's mostly functions + arrays. So people who know very basic programming could write their own plugins, themes and co.