I think if you interpret it charitably it means that any bug in the emitted machine code is already a likely memory-unsafe miscompilation if it is ran.
The compiler itself might be perfectly "memory safe" but the generated binary fundamentally is always at risk (besides WebAssembly I suppose).
I'm fully aware of the separation of compiler and binary, and being able to compile untrusted code safely is nice, but a perfectly safe compiler that generates vulnerable binaries isn't that much better.