AMP HTML, Terrible HTML

Seriously, how could this possibly go wrong?!

AMP HTML is another middle finger to publishers and ad companies everywhere, and in the process it throws the baby out with the bath water. Essentially Google is saying to publishers and ad companies, "You can't responsibly handle the power the web gives you. So here's something far more limited. Enjoy."

I agree with the first part, but is the answer developing a subset of HTML/JS/CSS?

Update

This post explores my misgivings in more detail: