I agree. It is mostly a solution looking for a problem and has close to the same functional downsides as Flash or Applets other than "transparency".
Its 'sandbox' is also escapeable at both the engine level in V8, Gecko and JavaScriptCore (All in C/C++) and at the implementation level; especially if the software was converted from C to WASM.
So it is not the silver bullet people think it is.
[0] https://nvd.nist.gov/vuln/detail/cve-2026-11645
[1] https://issues.chromium.org/issues/334120897
[2] https://trustsig.eu/blog/wasm2c-tableflip-unchecked-calloc/