Why not just compile the Swift to native Android and iOS code?
Wasm can be used in every corner of computing spectrum. It doesn't mean it's some perfect tool to solve all problems but it can lead to interesting places and those are worth exploring.
Wasm's strengths are in running untrusted code - its sandbox is quite strict. So the use case for wasm on mobile is downloading code dynamically. Wasm's competition in this space is JS, not native code.
Sure, but I believe a lot of people will be willing to make a performance tradeoff for that convinience.