Currently, the killer feature for React is the component libraries. While Hyper and related alternatives offer some competitive advantages in some limited ways. When it comes to developing applications, being able to find readily available component libraries and even one-off components is invaluable. Material-UI is a personal favorite, and some of the Bootstrap based libraries are very nice as well. Yes, you can ad-hoc many of these things.
Another advantage, by nature of JSX being a JS abstraction instead of a DSL is that you get intelligent interactions with your IDE, more so with TypeScript. hyperlit won't autocomplete your available component properties for example.
Yes, Hyperapp has a lot to offer, and if you're able to do ground up development, or enhancing existing, or mostly-static/server rendered applications, it can be great. That said, it won't replace with React (or even Angular and Vue) offer for application development with teams of developers.