WASM was designed with the intent that it run in the web as well as natively[0].
It just happens that the technology is still in its infancy and, because initial support was deployed in browsers, the web is currently the primary focus of developer interest.
And, unfortunately (to me) the most likely means of "native" deployment for WASM applications is going to be in Electron, but that's due to a limitation of the initiative of developer culture, not WASM itself.
IOW, JVM/CLR wanted primarily to support locally run, trusted application code and gave up on browser sandboxing. WASM is primarily run on browsers and hasn't attempted yet to support full applications. Apples vs. oranges.
It just happens that the technology is still in its infancy and, because initial support was deployed in browsers, the web is currently the primary focus of developer interest.
And, unfortunately (to me) the most likely means of "native" deployment for WASM applications is going to be in Electron, but that's due to a limitation of the initiative of developer culture, not WASM itself.
[0]https://webassembly.org/docs/non-web/