That's kind of what I'm saying. If you don't value those things, why introduce a library at all? What you're describing can be implemented in < 10 lines.
More like 200 lines, so it is useful to have a library. BTW it is rare to hear component lifecycle and event system described as key selling points of React. Most people would say DOM diffing and perf are the key selling points.
The point of React is to make it practical to structure view logic as a function (projection) of the application state. Virtual DOM is just an implementation detail.