true, but 99% of the apps don't generate any traffic at all :)
If you look at the top 1% of apps, all of them could have been PWA's but can't.
Here is a case study from aliexpress who achieved a 104% increase across all users for conversions when they deployed as a PWA: https://web.dev/case-studies/aliexpress
The primary challenge here is that companies are hamstrung by browser-level API's by companies like Google and Apple where they provide them only if you build an app. This forces developers to keep maintaining and providing apps, even though every developer knows that their headaches would be less than halved if they could just support the same capabilities via browser-level apis.