+1 for requestAnimationFrame. SMIL animations are cool until you try doing 1,000 of them. Still, I do agree that SVG is underutilized. Not only can it do so much more but it has effects that can be used in conjunction with DOM elements. Things like dropshadow, glow, blur, greyscale, duotone, etc. Check out this SVG glitch effect [0]

[0] https://codepen.io/DirkWeber/pen/YzBYWY