The #web has always had "Events"; like clicks and keydowns, but you couldn't create your own at first. So #webDev did what it does and invented hundreds of ways to create custom events; #Angular bindings, #Signals, #Observables, #Rx Streams, etc.
ReactJS "Hooks" are just another form of this; they are just callbacks that are executed at certain times in a component lifecycle.
Thing is; we have #CustomEvent now! It's well supported since IE11 is gone.