I respectfully disagree here. All UI views in React can be controlled via parameters. Very few components in a React application require state management. You can add parameter functions to handle various events as well.
> which allows you to use equality comparison instead of a deep compare to see what state has changed
You are doing a lot of deep compares on state in a real world application? Why? If you only use parameters for the state of your component, everything is already handled by React out of the box.
> every slice of the state can only be managed by a single, pure function
Really? You can trigger reducers from literally anywhere in your application. Not only that, you can create multiple reducers to handle each action type. I've seen a situation with 24(yup, 24) reducer functions for a single action type. Many of those reducers contained complex business logic checking the overall state of the application. Then you have 2 or 3 action functions all with different business logic for that one type. Race conditions everywhere. setTimeout 0, here we go again. Step debugger hell. Of course, you should never do this, but in the real world, this is what happens over and over again.
> means unit testing your state transitions is almost laughably trivial
If you use parameters for state of a component it is 1,000 times easier. Because a component's view is not coupled to the global state of your application. Pass it parameters, test that it looks correct. Change a parameter, check if it is correct. Dead simple. Your tests are not bound to global state at all. Again, you started with an anti-pattern of managing state in child components, and now, instead of not doing the anti-pattern, you are adding yet another tool to fix it. Instead of just not doing it.
In summary, what you are describing is the "theory" of why Redux and associated tools should work. In every case that I've seen(10+ at this point) that has not happened. Not because Redux is a bad tool. Its not. But in the real world, it has become incredibly expensive for many organizations to maintain.