Earlier quoted context omitted.
Note that "sandboxing" in this case is strictly runtime sandboxing - it's basically like having a separate process per event loop (as if you ran separate Node processes). It does not sandbox the machine context in which it runs (i.e. it's not VM-level containment).
When you say runtime sandboxing, are you referring to JavaScript agents? I haven't worked all that much with JavaScript execution environments outside of the browser so I'm not sure about what sandboxing mechanics are available.
Bun claims this feature is for running untrusted code (https://bun.com/reference/node/vm), while Node says "The node:vm module is not a security mechanism. Do not use it to run untrusted code." I'm not sure whom to believe.