This stuff “just worked” in the late 90’s (and probably earlier, assuming access to unix workstation hardware) with X11, when it was roughly the age Wayland is now.
I have two displays on my computer, one is 4k and the other is 1080p. One has HDR. One is 400 nits brightness, the other is not. Games are built across several engines with an amazing collection of rendering technologies. We have apps that embedded web browsers.
I'm sure if you restricted yourself to strictly first party native applications and a single display within one or two resolutions and no DPI scaling, Wayland probably meets most of your needs now.
XWayland doesn't really help you with things that are part of the desktop environment. You can't run a desktop background/icons manager or a dock/panel in XWayland, as it won't have access to the kind of information it needs to implement all its features.
Have we hit the two decade mark yet?
This stuff “just worked” in the late 90’s (and probably earlier, assuming access to unix workstation hardware) with X11, when it was roughly the age Wayland is now.