Rust compiled to WebAssembly doesn’t have a runtime. This results in small .wasm binary sizes that are proportional to the amount of Rust code that is being compiled to WebAssembly. Binary size is of huge importance since the .wasm must be downloaded over the network. The proportionality means you only pay (in code size) for what you use. In turn, that means it is feasible for existing JavaScript code bases to incrementally and partially adopt Rust.
Great to hear they're taking this approach. I do think it'd be nice to have DOM access too though, as then you won't need JS at all - I do think long term the attraction of this is to replace JS as a front-end language, not just augment it, but it's nice they're taking an incremental approach.