The 10000ft perspective on AMP was correct, the lived reality was awful. And the technical implementation used can't be divorced from everything that surrounded it: Google's place in the industry with regard to search engines, ads, etc.

In this specific example there is a very big difference between producing a format for use in a first-party app vs trying to replace standards for content used across the web.

AMP was a good technical solution for a short window of time, deliberately tanked by confusing/centralized stewardship.

They kept opening it more and more but by then it was too late.