It looks like there's a W3C draft "in the works" but I'm concerned since almost half the editors work for the two companies trying to pass this proprietary Azure/AD vendor lock-in nonsense.
You may be comforted by the fact that the top three people on the Github contributor graph[1] are not from those two companies. I've skimmed some of the published meeting minutes[2], and JCJ (Mozilla) and JeffH (Paypal) seem to be highly involved.
https://www.w3.org/TR/2018/CR-webauthn-20180320