> Cyclic references can be dealt with runtime safety checks too - like Rc and Weak.

Indeed. Starting out with code sprinkled with Rc, Weak, RefCell, etc is perfectly fine and performance will probably not be worse than in any other safe languages. And if you do this, Rust is pretty close to those languages in ease of use for what are otherwise complex topics in Rust.

A good reference for different approaches is Learn Rust With Entirely Too Many Linked Lists https://rust-unofficial.github.io/too-many-lists/