This is all well and dandy for some usage scenarios but breaks in others, eg. scene graphs and GUI's.
A scene graph needs 2 mutable references, and has nothing to do with ownership. Same issue exists with GUI's. The pattern that Rust forces is to always request a reference, which incurs a performance penalty while retrieving the same reference again and again and again.
I am not familiar with scene graphs, but what is the problem with borrowing or refcounting? This article showed how you can have multiple mutable references in Rust, even multiple mutable references running in parallel threads.