Why dont we see more web browsers being written to compete with the existing ones?

To be useful, a modern web browser has to:
 * fully support HTTP, caching, etc.;
 * have a fully featured HTML parser;
 * have a CSS parser and layout engine;
 * have a reasonably performant ECMAScript engine;
 * implement dozens of Web APIs such as WebGL, Canvas, Geolocation, etc.
 * provide bookmarks, a search bar, a homepage/new tab page, etc;
 * allow and support browser extensions;

Answer by Thomas Foster:

Web browsers are incredibly complex applications.
To be useful, a modern web browser has to:
  • fully support HTTP, caching, etc.;
  • have a fully featured HTML parser;
  • have a CSS parser and layout engine;
  • have a reasonably performant ECMAScript engine;
  • implement dozens of Web APIs such as WebGL, Canvas, Geolocation, etc.
  • provide bookmarks, a search bar, a homepage/new tab page, etc;
  • allow and support browser extensions;
Most of those components are pretty complex – the ECMAScript standard is well over 600 pages and growing, HTML5 is perhaps even more complex, etc. Even with all the resources Google, Apple and Microsoft have, they can't get all of those things done overnight.
So actually writing a competitive web browser is a huge task, even for a large team. Add to the size of the task the fact that web browsers are fairly hard to monetize, and I think you'll see why there aren't more of them around.

Why dont we see more web browsers being written to compete with the existing ones?

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