Respectfully, that's a stretch - WebAssembly + (display tech) is a completely different stack in the browser. Houdini is bolting on a bunch of imperative stuff
directly inside the browser engine with knock-on effects up and down throughout all of the web umbrella technologies.
With a wasm+web hybrid, there's a clear separation between the imperative wasm bits and the declarative web bits, so you can even combine them in ways that allow both stacks to perform well.