We are heading toward more and more JS tooling being built in Rust. While it is still early, I believe that there are already signs of this becoming a dominant approach over the next few years. This is a list of interesting technology being built on that path, both higher level projects and lower level tools.
Probably the most ambitious Rust-for-JS project around currently.
Notably orogene has completely embedded node in a crate they call obelisk. This is pretty major in terms of current runtimes, as node is the most popular and allows orogene to ship a single binary rather than an npm package.
SWC is similar to babel, but written in Rust. It is most often advertised as an npm package and allows you to write the equivalent of babel plugins in JS as shown here. It is exposed to node projects through napi-rs.
The SWC project also includes spack, which is a bundler most often thought of as in the "Webpack" class of libs. Spack is still early.
SWC's crates can be used as a Rust library if you commit to using Rust nightly and installing from GitHub, which is what Toast does. The SWC git repo is set up as a cargo workspace.
It is currently used by Deno and Framer in production.
People are increasingly looking to build JS tooling in Rust, such as Joel Denning's rawsemble, Fábio Santos' work on Terser, Relay's work on Neon and WASM variations of the Relay compiler. There are some n-api binding based libraries at napi-rs/node-rs for things like bcrypt.