I'm not going to defend every use of javascript as there are some very bad examples out there. However there will always be good uses for it and because websites have become more important, web browsers are becoming more standardised so we're unlikely to see major shifts in the the way websites are designed. HTML5 is mainly just a load of old technologies that have been standardised. I blame tim berners lee, but they knighted him.
There are indeed some good uses for it - and they aren't the problem. Good Javascript, when it can be found, does only what static page content and server-side scripting can't, and does so efficiently, such that even an old browser can handle it. (I can log into GMail from iWeb on my A1200, for example.) The problem is bad Javascript, which is
far more common, almost omnipresent in these days of glitz-focused "Web 2.0" design.
Bad Javascript eats up CPU cycles like popcorn, usually for no other purpose than to make "dynamic" a page that would have been perfectly fine static, or to badly reimplement basic browser functionality. (There is nothing in the world that makes me want to harm my fellow man the way Javascript links do.) The only way to avoid it is to have a Javascript whitelist feature such as NoScript, because it's currently still illegal to kill someone for bad web design. And it gets worse every year.
Good Javascript needs no special measures to work. Bad Javascript is the primary (almost the
only) reason people keep having to throw more horsepower at a web browser.
As far as HTML5 goes, I know that HTML4 needed a cleanup, but this just gives more free reign to bad Javascript programmers. It isn't what was needed in the slightest.