You are right - it is standardized thing, thought right now Opera,Safari and Chrome supports v1 (basicly everything webkit/blink based) out-of-the-box, Firefox has that behind flag and not ready, Edge is implementing it. You can use the polyfills for the older browsers for now, not everything can be polyfilled perfectly though.

Web components are a bit low-level, so you have libraries and frameworks like Polymer, X-Tag, Svelte, SkateJS building on top of the standard to make the development fun and friendly.