Yeah, and when you think about the insane complexity of Web standards, and the fact that even Microsoft failed to create a browser with an independent engine, we are very unlikely to see a new browser engine: https://waspdev.com/articles/2025-04-07/will-there-be-a-new-... . This means that not only we are unlikely to see browsers with new engines but also that the existing browser engine diversity might even shrink if a browser becomes underfunded and / or loses a critical number of users / web developers.
Ladybird is steadily progressing: https://ladybird.org/
Servo exists, and it's making steady progress: https://servo.org/
"even Microsoft" is an oxymoron. Microsoft is exactly the entity I would expect to fail at implementing complex standards.