Can template literals replace Blaze / React / Vue?

This blog post by Keith Cirkel explains how es6 template litterals could potentially replace Handlebars and similar template tools.

He gives some examples that look like

var peopleList = ({ people, isAdmin }) => {
  return `
  <ul>
    ${people.map(person => personRecord({
      person,
      deleteButton: isAdmin ? adminDelete(person) : ''
    })).join('')}
  </ul>
`;
}

The author concludes

ES6 Template Literals probably won’t be replacing those libaries any time soon, as there is little to gain from doing so.

However, up to some extent, that’s the idea behind JSX and that kept me wondering how difficult it would be to make a white box that keeps all the benefits of modern templating systems (reactivity virtual DOM, etc) while taking user-built HTML strings as input.