> for malicious software you’re just looking for a process handing out high privilege handles
In the end, that is true.
But the thing is the way Fuchsia's implementation of the 'capability security model' is done. The capabilities a process (or, a 'component' in Fuchsia's model) use/consume are explicitly given to it. And this scheme is implemented in a way that is easy to see and account for where/from these capabilities are going to/from. An process can do nothing that is not provided by the capabilities it got during creation.
Of course, components might be buggy/malicious and leak capabilities. But the security holes bottleneck in this capability routing scheme, so even with buggy/malicious components, it's much easier to audit and fix. And from an attacker perspective, it's much harder to reach a component given the routing path of capabilities that it's received.