WASM is in an interesting place. The value has clearly been proved with a pretty minimal core spec. Now there's a big push to implement a much larger API surface for WASI and the Component Model. A lot of people in the community are concerned about this direction, or at least the way it's happening[2].
For my part, I hope WASM doesn't go the way of the rest of web browsers where it gets so complicated that only big tech is capable of making implementations and experimenting.
[0]: https://github.com/lastlogin-net/decent-auth
[1]: https://extism.org/
[2]: https://www.assemblyscript.org/standards-objections.html