I don't think it's necessarily that it "can't" work as much as it takes away a critical element of control from the game developers and the times you find yourself "at the mercy" of the garbage collector is pretty damn frustrating.
The problem we ran into with garbage collection was that it was generally non-deterministic both in terms of when it would happen and how long it would take. We actually added an API hook in our JS to manually trigger GC (something you can do when you ship a custom JS runtime) so we could take at least the "when it happens" out of the picture.
That said, there were often fairly large variances in how long it would take and, while frame time budgets may seem to accommodate things, if you end up in a situation where one of your "heavy computation" frames coincides with a GC that runs long, you're going to get a nasty frame time spike.
We struggled enough that we discussed exposing more direct memory management through a custom JS API so we could more directly control things. We ultimately abandoned that idea for various reasons (though I left over 6 years ago so I have no idea how things are today).