Is this WASM specific though? Some apps suffer in performance when they move to 64-bit in general due to larger pointers and not taking sufficient advantage of/or needing 64-bit data types in general, hence the increased memory bandwidth/cache space slows them down (one of the reasons many people like a 32-bit address space, 64-bit data model).
The blog post explains that it's more than that. Bounds checking, in particular, costs more for reasons having to do with browser implementations, for example, rather than for architectural reasons.