Unfortunately I don’t think that comparison quite holds. jQuery is mentioned less and less because core browser APIs implemented a lot of what it does and made it unnecessary.
Even if Web Components solve the “create a component” part of React there’s still an absolute ton of stuff it provides that Web Components don’t. I tend to think of WC as a low level API you want a library interfacing with rather than your own code, e.g. the way Svelte exports web components.
If it's a choice between removing the JQuery dependency from old JQuery code, or updating equally old vanilla javascript, I'm going to be picking the first option a lot.
Even if Web Components solve the “create a component” part of React there’s still an absolute ton of stuff it provides that Web Components don’t. I tend to think of WC as a low level API you want a library interfacing with rather than your own code, e.g. the way Svelte exports web components.