I can't quite understand what is your point? Are you arguing that both JVM and WASM are bad? With this I agree, they both have terrible performance and in an ideal world we wouldn't use any of them.

Are you arguing that JVM bytecode is better than WASM? That's objectively not true. One example is a function pointer in C. To compile it to JVM bytecode you would need to convert it to the virtual call using some very roundabout way. But in WASM you have native support for function pointers, which gives much better flexibility when compiling other languages.