"While it does not have the aggressive optimization stance (or complexity) of larger compilers such as LLVM or gcc, its output is often not too far off: the same paper showed Cranelift generating code that ran ~2% slower than V8 (TurboFan) and ~14% slower than an LLVM-based system."
The artifact's executions speed doesn't seem to be Cranelift's priority. They're instead focusing on compilation speed and security. Those are still useful in Rust for debug builds at least. That's when we need a quick turnaround time and as much verification as possible.
Besides the potential typo noted by another comment, I'd also note that the benchmarks are on a WebAssembly compiler, which has already gone through the LLVM wringer and thus undergone many high-level optimizations, including those reliant on alias analysis (which Cranelift is quite conservative on, iirc). I'd also imagine that the translation from LLVM IR to WASM discards some useful information that the LLVM backend could otherwise have used to generate better assembly.
That's not to say Cranelift isn't a fantastic piece of tech, but I wouldn't take the "14%" or "24%" number at face value.
-- https://cranelift.dev/