MINIX is a microkernel architecture - running drivers in userspace is one of its core features/selling points, and one that differentiates it from (modular) monolithic kernels such as Linux. So, this isn't a very solid line of reasoning.
It seems to me that the situation is the opposite - that moving drivers to userspace is an architectural change, which is more complex than porting an existing architecture to a new language.
> Rust code can still be vulnerable in many other ways
Sure, but not vulnerable in the way that the vulnerability under discussion is.
> memory leaks
Much harder in Rust than C, and also unlike in C, not going to result in security vulnerabilities.
> buggy/compromised toolchains
If you're going to assume that your toolchain is compromised, than anything is on the table, including the toolchain inserting a backdoor into the kernel and completely bypassing the proposed architectural change of moving drivers into user-space. And, needless to say, compiler bugs are rare in general, and compiler bugs that cause software vulnerabilities are nearly unheard of (and I've literally never seen one before).
Nobody thinking rationally is going to tell you that Rust is going to eliminate all your bugs or make your code secure. However, by far, the majority of security bugs in the Linux kernel are due to mistakes that the design of Rust either completely eliminates or massively reduces.
And security is intrinsically a tradeoff - the Linux kernel is not optimized for maximum security (which would be something formally-verified like seL4), but a compromise between security, performance, and development velocity. The claim is that Rust will provide significantly better security at basically the same performance and possibly modestly improved development velocity - the very least that one should do is rewrite the existing architecture in it (or, again, a language that meets or exceeds the specs of Rust) and then see what the bug rate is before deciding to take a guaranteed performance hit through an architectural change.