Not really. The whole SecurityManager thingie was a fiasco from the start.

It granted access to _code_, not to the environment. Basically, you declared in the manifest that "com.mycompany.blah.*" wants to have full access rights, and SM granted permissions to that _code_. So it was predictably easy to subvert this, because Java code was not typically written in defensive style, sanitizing all the input data.

All the modern sandboxes instead isolate the environment.