They link the issue [1] tracking the change which also speaks about disabling cranelift.
To my knowledge cranelift was made for the purpose of compiling WebAssembly in Firefox, so I am not sure if I am missing something here (it's not yet production ready maybe). The Cranelift README[2] mentions that it will be a backend for IonMonkey.
I am a complete layman here so I am curious if someone here has a better understanding.
[1] https://bugzilla.mozilla.org/show_bug.cgi?id=1687626
[2] https://github.com/bytecodealliance/wasmtime/tree/main/crane...