I can't speak to whether or not #typst is capable of replacing #LaTeX.
That said, it's a pretty neat tool. After poking at the (excellent) documentation and walking through the tutorial, I was able to start building good looking documents without any hand holding.
My use case is "using archaic tools like #groff to avoid fighting with gui/web word processors". If yours is similar, you'll likely enjoy playing with it.
@RussSharek Looks interesting, didn't know about #Typst - thanks for sharing!
Have just had a quick look at it so far. If I understand it correctly, you need a special (web) app to write things in Typst. If this is true, that would probably be a no-go for me (it is a critical feature for me to be able to use my preferred editor); will nevertheless have a closer look at it.
I usually use #LaTeX in case the required formatting is complex (and in particular for documents requiring a lot of mathematical typesetting - though this happens very rarely these days) and #Asciidoc in simpler cases (which happen to be the usual cases).