This has been around since 2011 when WebGL shipped. It's documented in the spec. It's a self correcting problem. You go to a site, it freezes your machine, you never visit the site again.
No data is stolen, no privacy is lost. All that happens is the perp loses any audience.
Turning off WebGL = no more Figma, no more Canva, no more Google Maps. A few self correcting sites seem acceptable. Evidence, it's been 15 years since this was possible and the world didn't end and the whole internet isn't freezing your machine.
Also, this is arguably a MacOS bug. Window and Linux have had GPU monitors that power cycle the GPU if a command takes too long. Windows since before WebGL shipped. Linux a few years after. Macs still don't recover from excessive GPU use.
Do you think a regular user knows how to block a specific website or never click a link leading to it again? And what about the ads people, adding such a thing if you don't load their ads?
I think this point of view is making it a bit too easy.