>I can't say everything I've heard for NDA reasons but I've been under the impression its use is in future resource-constrained IoT devices.

I highly doubt that.

"Magenta targets modern phones and modern personal computers with fast processors, non-trivial amounts of ram with arbitrary peripherals doing open ended computation"

Magenta is the name of the Fuchsia kernel.

https://fuchsia.googlesource.com/magenta/+/HEAD/docs/mg_and_...