We also have Python bytecode.
One thing that sets Wasm [1] apart is that, the Wasm virtual machine is significantly lower-level than JVM, .NET or python virtual machine.
That makes it a better target for compiling C but also means different code bases will have to implement such things as strings, dictionaries, sets, etc. themselves, and that means it will be harder to combine multiple libraries in a single Wasm binary.
[1] I think they already lost that war, but that’s what the spec says it should be capitalised. https://www.w3.org/TR/2025/CRD-wasm-core-2-20250616/: “A contraction of “WebAssembly”, not an acronym, hence not using all-caps”