The approach of patching soundness issues seems pretty dangerous to me, since nothing guarantees there won't be more, or that they even perfectly cover the current ones.
Relying on the compiler to do sandboxing is theoretically possible, as done by the Singularity and Midori operating systems from Microsoft (they ran all user programs in kernel mode, without paging, relying only on the compiler to prevent an user from reading memory from another user). But in practice this can't be done with a compiler full of holes like rustc, you would need a compiler that was designed for this from the ground up.