No, I was also around when React was new, moving to it from tangles of jQuery and Backbone. I absolutely know React brought several lasting innovations, in particular the component model, and I do appreciate that step change in front-end development. But other frameworks have taken those ideas and iterated on them to make them more performant, less removed from the platform, and generally nicer to work with. That is where we are today.

I agree that there was a period where many organizations did rewrite their apps from scratch, many of them switching to React, but I think very few did it ”every couple of years”, and I think very few are doing it at all today (at least not because of hype - of course there might always be other reasons you do a big rewrite). We should not confuse excitement about new technologies for widespread adoption, especially not in replacing existing code in working codebases.