This is a little crude still, but the fact that this is even possible is mind blowing. This has the potential, if progress continues, to break the vendor-locked nightmare that is GPU software and open up the space to real competition between hardware vendors.

Imagine a world where machine learning models are written in Rust and can run on both Nvidia and AMD.

To get max performance you likely have to break the abstraction and write some vendor-specific code for each, but that's an optimization problem. You still have a portable kernel that runs cross platform.