It also allows people to design new backends (looking at CUDA LLVM backends)by finding out the right abstraction to support performance. For example, implementing a C or C++ compatible CUDA backend required the C++ committee to make changes to the memory model / consistency guarantees of C++ atomics. If C or C++ had only depended on compiler implementation for it, then there would have just been different implementations with different guarantees with no consistencies between them, and no single way to even define why they were different.
There are a couple of CppCon talks on the subject.
So you can't really produce a high quality standard with only one implementation. You'll miss important details.
Reliability at the extremes (where it may be even life or death situation) requires the developer knowing what the program (s)he is writing exactly expresses in Rust.
That just need documentation. You don't need a standard for that.
For stability compilers already have a large incentive not to break old programs. For longevity I don't really see how a standard affects it that much. For being more portable you do not need an entirely knew compiler.