It would be awesome if Rust were faster, of course. At least with Rust, you get the borrow checker, not just compiling. It feels like you're getting something more in return (even though I don't know which step of compilation actually takes the most time).
But that would still suck. Luckily, there is a solution that works in many cases, rust-analyser. Obviously having basic syntax checking in an editor is preferable, because it shortens the feedback loop. I think this is why a lot of IDEs do it, not just for Rust. It's still a work-around, but makes it more bearable.
I'm not hugely experienced in Rust development, but it would be awesome if cargo could compile files when they are saved, so incremental build times and running tests might feel shorter. You could still get into trouble with complex dependencies between code units, but better > perfect. Visual Studio's "Live Unit Testing" takes this to an extreme (yeah, VS itself has poor performance, but doesn't mean the idea is bad).
Basically, if tools must have bad performance, because they are doing a lot of work for us (?), then at least make the development experience not suffer from that bad performance. That's what I care about more than just perf, it's how it impacts me, right?
In general, I still think compiling provides a decent trade-off. Yes, I need a beefier machine, and yes, my dev cycle is just a bit longer. But people using the actual product, they get the benefits. You could go with e.g. Python, where maybe one or two tests take less time to run, but ultimately you'd just be shifting the burden somewhere else. It isn't much consolation in the moment, but worth remembering.