Besides making it much nicer for GC'd languages to target WASM, an important aspect is that it also allows cross-language GC.

Whereas with a manual GC, if you had a JS object holding a reference to an object on your custom heap, and your heap holds a reference to that JS object (with indirections sprinkled in to taste) but nothing else references it, that'd result in a permanent memory leak, as both heaps would have to consider everything held by the other as GC roots; so you'd still be forced to manually avoid cycles despite only ever using GC'd languages. Wasm GC entirely avoids this problem.