Well, someone went to the trouble of writing a Rust binary just to hide the game code, when they could have used standard JS obfuscation instead. This suggests to me that WASM has some properties that make reverse-engeneering harder than obfuscated JS could do alone.
This would give some validity to the fears of WASM becoming the "new Flash" that were voiced when it was still in development.
... but Flash was easy to reverse too, just download the .swf file and use one of many tools to reverse engineer it. It's probably why there are so many "hacked" flash games available if you search for them.
I never really found any of those tools. Granted I could have looked harder. Perhaps I was looking in the open source world too much and they usually came as binaries?
This would give some validity to the fears of WASM becoming the "new Flash" that were voiced when it was still in development.