Well, there have been two major attempts to make PyTables working on top of h5py. The first one took place during a hackfest in Perth back in 2016 (thanks to Curtin University funds and most specially to Andrea Bedini enthusiasm), where different maintainers gathered there for starting the porting process. We did quite a bit of progress, but still, there was a long way to go; you can read the final report here: https://github.com/PyTables/PyTables/blob/pt4/doc/New-Backend-Interface.rst. The other important push happened past year (2017), by using a small grant from NumFOCUS. Alberto Sabater, the receiver of the grant did also a lot of progress on top of the existing 2016 work, specially on the *Array (EArray, CArray, VLArray) front; you can find his contribution in this pull request: https://github.com/PyTables/PyTables/pull/634.
My perception from both attempts makes me think that the amount of job remaining for completing the port is still very significant, and that small grants (like NumFOCUS ones, which are 3000 USD max) are not really suitable for getting the job done. So for this year's small grant from NumFOCUS I suggested to Javier Sancho (the receiver of the grant) to concentrate on fixing bugs and applying pending pull requests and doing a new release of PyTables, and with the remaining time, to implement a web interface for visualizing Table objects remotely; you can see the outcome of this effort here: https://github.com/PyTables/datasette-pytables. I have to say that I am really happy about the outcome of this latest grant.
From all of this experience and frankly speaking, I am unsure about the feasibility of the PyTables/h5py merge because we would require quite more than a small grant for this, and I am not sure the users/foundations would never really pay for this cost. So, what I'd like to do instead is to continue applying for small NumFOCUS grants in order to do maintenance works for PyTables, and perhaps some small improvements; for example, I recently applied for a NumFOCUS grant to extend the support of advanced indexing and sorting to general compound datatypes in generic HDF5 files (rings a bell to you?). I do think this approach would result in a better use of the (scarce) resources that we currently have for PyTables maintenance, and the the users will benefit the most from it (but in case we get bigger funds, the PyTables/h5py merge would still be an option, of course).