Sure, but Rust can have a runtime, and presumably Rust on WASM does.
If you don't have a runtime in Rust you only get core.
https://doc.rust-lang.org/core/
This has obvious effects (you don't have an allocator so you can't have String) and more subtle effects (your slices don't have a sort() method! However they do have a sort_unstable() method) but while it's probably a reasonable environment for the firmware inside a custom $25 gizmo it's not a very comfortable one for general purpose programming.
To deliver a bit more, for example an allocator, you're bringing in a bunch of platform specific code, which, just like the Garbage Collector for Go, you did not write.