Wasmjit doesn't really address #2. Memory bugs in nginx will continue to corrupt data and potentially allow RCE, they just will not be allowed to spread to the rest of the kernel (in theory)
If wasmjit is sound, it won’t allow general RCE. WASM enforces a significant level of control flow integrity; for the most part the worst you can do with an indirect branch is take advantage of type confusion to execute an unintended function. You cannot generate arbitrary code, or use something like return oriented programming to execute portions of existing functions.