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There seems to be a section in the article called "Why would we want to run WebAssembly outside of a browser?" that I think addresses what you're asking?

LLVM bitcode is, I believe, not portable. Neither is Assembly. Nor are the resulting binaries of that processed something that is run within a sandbox.

This, i think webassembly is the sweet spot. It has portability but doesn't have any opinion about how the code should be structured. No opinion about GC or objects etc.

Works really really great with Rust.

Yes. Because WebAssembly provides a higher level of abstraction (safety, isolation, portability, manageability etc — you know, the “enterprise” stuff) over native code. See here: https://www.secondstate.io/articles/why-webassembly-server/

Because WebAssembly allows you to sandbox the code, which you can't with regular assembly.

Sure you can. The so-called "virtual machines" have existed for a while now. :)