Does this mean we can finally be done with the farce of pretending that Wayland is a serious contender for replacing X11?

Why is it not? I get the impression Wayland has been built by former X devs

The issue (to my understanding) is that it is a very different protocol, which makes it quite onerous for application and desktop environment developers to transition to. Also, since some desktop environments have really grown opposed to Wayland (e.g. XFCE) it puts the application developer in the position of having to wait.