Why not just run a vm?
Although... it doesn't say anything about releasing memory back to the host (I don't see a memory.shrink instruction) so maybe it's not all that helpful? Will WASM applications continue hogging the maximum amount of memory they've ever used until they're restarted?
A VM could release memory back to the host using memory ballooning, but this has to be managed manually somehow, at least with QEMU.