v1 shipped with Chrome 53, Safari 10 and Firefox 63. (And there's a polyfill.)

It's not "soon", it's very much "been in production for a while".

A base class like LitElement https://lit-element.polymer-project.org is all you need to achieve a sort of "react-like" development style (components with unidirectional data flow) WITHOUT build tools() and WITHOUT dom diffing! :)

() if you want to use npm dependencies instead of just plain files with a bundled version of lit, you still need to rewrite import paths, until https://github.com/WICG/import-maps becomes a thing at least. I wrote a tiny dev server that does that: https://github.com/myfreeweb/es-module-devserver