To me, the most important nuance really is that just like "hypermedia links" (encoded as different link types, either with Link HTTP header or within the returned results) are "generic" (think that "activate" link), so is REST as done today: if you messed up and the proper action should not be "activate" but "enable", you are in no better position than having to change from /api/v1/account/ID/activate to /api/v2/account/ID/enable.

You still have to "hard code" somewhere what action anything needs to do over an API (and there is more missing metadata, like icons, translations for action description...).

Mostly to say that any thought of this approach being more general is only marginal, and really an illusion!