Such speedup is not plausible at all. It had to be a flawed benchmark relying on some API being very slow in userspace (probably on purpose, not using it the right way). The raw execution speed of WASM can't change much just because it is in a kernel.
That's probable, though if we want to give them the benefit of the doubt, it could be a non-optimised benchmark, ie, something that may be written during the average devoper might ordinarily write, rather than hyper-optimised code specifically for that benchmark.