I think this is true. But I also think that Netscape is paying attention, and will add tags to their browser to support the layout features that Fusion users desire. Here's how it would work. A page becomes a cartesian plane. Bits of text and graphics and code place themselves in specific locations.
Some objects can already have height and width, all that's needed is top and left.
It's not rocket-science. Draw programs work this way, as do page layout programs. People who use Quark XPress and PageMaker could do a Save-as and produce reasonable web content. This would open up the web to a new kind of designer. People who use teletype-oriented terminal programs will object that this would make the web less usable for them.