Not trying to be flippant, but by extending your analogy: if the Kubernetes supervisor dies (which is conceivable, no technology is infallible), then you are in the same scenario as something bringing your whole Elixir VM down. You can always run your Elixir VM using something like supervisord if you need another watchdog.
BTW, it's very hard to bring BEAM down. Most exceptions will bring kill the faulty process, but leave the supervisor tree untouched. Only "unmanaged" code (for example, calling a C library using a NIF) might crash the whole VM.
Then again, no technology is infallible.