I suppose you could use it to create a "covert suite" of apps for the M1 iPad that talk to each other where they aren't supposed to. Sharing permission X from app 1 with app 2 that isn't supposed to have permission X, etc.
I would assume a huge JITed VM implementation would show up easily in analysis.
>Can malware use this vulnerability to take over my computer? No.
>Can malware use this vulnerability to steal my private information? No.