It's really the only systems language in its exact niche.
I'm suggesting a language where there's no difference between Box<u32> and u32. &Vec<u8> and &[u8] are the same thing. I don't need to write Box::new(...) around my closures to pass them to functions that take a function pointer. This comes with overhead, but in exchange we get simpler less verbose code. I.e. a language that isn't systems level, and isn't particularly machine-empathetic. But still has all the lightweight-formal-methods power of rust with lifetimes and mutable vs shared borrows (and thus references to references) and so on.
My impression of Hylo is that it's purpose is to be a similarly low level systems language to rust, just with a less complicated, and as a consequence less expressive, lightweight formal methods system for proving correctness.
I agree I don't expect rust to be displaced anytime soon. It creates a lot of time to create a good compiler, and a lot more to create the ecosystem of code, tools, and community around it.
What costs rust in iteration time in my opinion is the low level (by default) nature of it. There's a faster-to-iterate language that has yet to be created which is rust but we sacrifice performance (and memory fiddling ergonomics for the odd person who does that) so we don't have to worry about things like whether a variable is stack or heap allocated. Which is in the direction of a GCed language but retains the mutable-xor-aliasable semantics.
Between rust and current GCed languages though... I guess I agree with "maybe" in both directions.