That's a sandboxing technology but not a memory safety technology.
You can totally achieve weird execution inside the rlbox.
Wasm now supports multiple modules and multiple linear memories per module, so it ought to be quite possible to compile C to Wasm in a way that enforces C's object access rules, much like CHERI if perhaps not Fil-C itself.
Running ffmpeg compiled for wasm and watching as most codec selections lead to runtime crashes due to invalid memory accesses is fun. But, yeah, it’s runtime safety, so going to wasm as a middle step doesn’t do much.