Does the WebAssembly community really need to reinvent the wheel and create yet another set of new platform APIs?
Imho, the WebAssembly community should focus on the missing features multithreading and shared memory. That way, we could run arbitrary code, written in arbitrary languages, and we could just compile existing code to the platform without problems, saving lots of developer time.
Good news! WebAssembly has community group projects setup for both multithreading [0] and multi-memories [1] which would allow a module to both define a memory space and also import a shared one.
There are so many parties interested in wasm, there are a ton of inflight proposals and extensions to get it beyond the mvp stage.
[0]: https://github.com/WebAssembly/threads [1]: https://github.com/WebAssembly/multi-memory