If you're familiar with rust syntax, that function is readable:
A function 'transmute_lifetime' that takes a tuple of generic type T with lifetime 'a and returns a T with lifetime 'b...
And then the code itself, beyond the function signature, is trivial destructuring matching.
If you're not familiar with the syntax of a language, of course it won't be easy to read.
perl and bash can rapidly devolve into symbol salad if you don't know them. If you don't know es6, javascript's spread and destructuring assignment syntax can look every bit as strange.
That all being said, the point of this rust code was to be a minimal example. Minimal reproducers are often nonsensical and unidiomatic, which helps put this in further context.
I think the original un-minimized crashing code was this: https://github.com/rust-lang/rust/issues/52213#issuecomment-...
That's clearly more readable, and that's what more typical rust looks like.