TL;DR: compilers written for the JIT use case are designed to minimize latency (compilation times) while still producing above-average code, so having such an alternative backend would be a boon for regular users of compilers with heavyweight backends (e.g. LLVM, which produces excellent code but at the cost of very large compilation times, even in unoptimized builds). Additionally, a compiler built to process WASM is more security-aware than your typical compiler, and thus won't include optimizations that attempt to exploit undefined behavior (thus losing out on potential optimizing opportunities, but hopefully producing code that's a bit more bulletproof).
You cannot access the browser APIs from WASM so there is no tight coupling with the browser environment. I think non-browser use could make definately sense.
Do you have a reference? I'm confused about why you wouldn't want to access browser APIs.
WASM code can call external functions defined per module, and the external code can be JS code that interacts with browser APIs. So indirect use of browser APIs is possible.
https://github.com/WebAssembly/design/blob/master/HighLevelG...