Well, Spectre is a largely-theoretical class of vulnerabilities, that doesn't even apply to chips that don't do speculation in hardware, and that is purely about information disclosure via side-channel mechanisms. It might be a bit of a concern for some users, but it's not the end of the world - for instance, the designers of the Mill architecture have a whole talk discussing how Spectre as such doesn't really apply given the architectural choices they make. And if running stuff in different address spaces is enough to mitigate it effectively, that still provides quite a bit of efficiency compared to an entirely conventional OS.