I've been developing on top of wasm (wasmtime, specifically) for several years now.
I personally have my doubts about how broadly the components specification (which this cloud platform seems to depend on) will be adopted. Maybe I'm just not very smart, but it feels like one of the things I loved the most about WebAssembly, its simplicity, is being lost.
To get even basic things done with WASI, you now have to figure out which flavor to pull in (preview 1, preview 2, ... need any async [0], that's coming preview 3?), learn a new IDL language [1] that defines the component's spec, figure out its codegen toolchain [2]. It's all very reminiscent of COM, CORBA and all the other times this has been tried in the past.
In any case, wasmtime is an amazing project and I'm grateful for it. They've already had to bifurcate the library to support WASI and components. I just hope non-WASI/component code retains its status as a first class citizen in the project.
[0] https://docs.google.com/presentation/d/1MNVOZ8hdofO3tI0szg_i...
[1] https://github.com/WebAssembly/component-model/blob/main/des...
[2] https://github.com/bytecodealliance/wit-bindgen