I agree, though in practice with many Rust programs that iteration cycle is actually not "edit, compile, run", it's "edit, save, wait for rust-analyzer to update" which is generally much quicker (even if it is sometimes still a little slow).
In most cases, Rust's very strong type system means you spend a lot less time actually running your program.
There are definitely exceptions though. E.g. if you're making a web app and editing CSS or whatever then the Rust compiler isn't going to tell you if you've got the colour wrong.
> a lot of people used to “blame” llvm, but it doesn’t seem to be as big of a culprit
It still is; there was a post here really recently where someone broke down the time spent in various phases. LLVM is still the vast majority, though apparently that is partly due to Rust generating a lot of work for it.
> I would expect incremental build speedup to be prioritized, and steadily improving.
It is.
> But clearly it isn’t moving very fast in that direction. So why not?
Because Rust's unit of compilation (a crate) is very large. In C/C++ it's a single file.