The only output from the WASM is to draw to screen. There is no chance of a RCE, or data exfiltration.
There's very little code in the world that I wouldn't want to run in a robust sandbox. Low level OS components that manage that sandbox is about it.
Ideally, I'd like not to execute any kind of arbitrary code when doing something mundane as rendering a font. If that's not possible, then the code could be restricted to someting less than turing complete, e.g. formula evaluation (i.e. lambda calculus) without arbitrary recursion.
The problem is that even sandboxed code is unpredictable in terms of memory and runtime cost and can only be statically analyzed to a limited extent (halting problem and all).
Additionally, once it's there, people will bring in libraries, frameworks and sprawling dependency trees, which will further increase the computing cost and unpredictability of it.