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Have you at all considered supporting VRL (https://github.com/vectordotdev/vrl) for the transformation stage? We've already seen at least one non-Vector Rust-based tool make use of this (Quickwit). I personally think it would be a nicer interface than WASM, and, at a guess, likely more performant than the existing alternatives.
How does this compare to something like Cube?
How does it compare to https://materialize.com/ ?
I assume you have studied Noria? https://github.com/mit-pdos/noria
readyset.io is the company that jonhoo was associated with for work on noria