2. might be more possible with WASM than it is with minified JS since WASM has a text mode which is very readable.
2. I don't think anyone is claiming minified JS is awesomely transparent. WASM is certainly worse than the unobfuscated, unminified JS, which until not long ago was the norm.
The bigger problem, which is also a problem with web scripts in general, is that browsers and script distributors generally make no effort to inform users about what scripts are running, whether they are proprietary or free software, etc.
Mozilla should fix this!
- Wasm (and JS) should have metadata (loadable before executing the code) declaring the license, and pointing to the source
- Browsers should whether site is open source (per OSI), and allow to block non-open JS. Or fake access to any sensitive APIs for non-open code (can still do DOM interactivity)
The builds should ideally be reproducible, and community-based third-party sites verify the output comes from said source. This would be another badge/warning/setting.
By contrast, if in common usage people are only running software compiled to Web Assembly, then:
1. You probably have some work to do to figure out the licensing of the code running in your browser.
2. The ability to look at the program logic for study or reuse is diminished in practice as compared to the early web when you could view source.