Is this not essentially what docker did with cgroups? It’s incredibly tricky securing containers, I’m not at all confident process only sandboxes would be adequate.
The fact that VMs are necessary has shown how much OSes have failed. That we need to take an OS and package it into multiple VMs to get any real isolation is a problem that OSes should solve for.
The fact that VMs exist at all shows how much OSes have succeeded.
Systemd did the cgroups thing right. Apart from the v1/v2 thing, but if you can use only v2 then you do not need to think about it.