Rust releases are just compiler toolchain, maybe some new syntax features. Java includes the JVM which is subject to way more security issues and needs much more frequent updating.
Maintaining binary compatibility is a principal goal of the platform which continues to constrain design decisions for all future changes.
Then releasing more often is better, because the security fixes get out of the door faster?!
If previously a Java Update took 3 years, then the corresponding JVM version would be 3 years old as well.
If there were patch release in between, I see no difference to now.