To echo your points, the DOM is most certainly an advantage when it comes to layout and the breadth of api's available. However, it kills rendering speed even when hardware acceleration is implemented in the browser.
I disagree! Some of our best performance results on mobile are using Chrome for Android with WebGL enabled (see this blog post). Basically, although our engine uses lots of browser-level APIs, we don't ever really touch the DOM per-frame. So we don't get any perf hit from DOM manipulation or re-flow. And browsers, especially Chrome, are extremely efficient under these circumstances.
In fact, it is very difficult for DOM-less engines to match the performance of Chrome with WebGL support: unless you re-invent their multi-threaded renderer model which works with WebGL, have a highly optimised pipeline such as being able to read typed arrays from the javascript engine without copying or converting them, and so on, it's likely Chrome will still beat the DOM-less engine performance-wise. Unless you re-invent loads of browser features, Chrome will still beat the DOM-less engine feature-wise. Why re-invent the wheel when you can just use the Chrome browser engine? This is why I'm convinced the future of HTML5 game wrappers on mobile is the Chromium mobile ports.