I looked at the flutter gallery and it looks like they just compile everything to js files and paint the widgets on a canvas element. Would be interesting to know if they're investing any effort in different backends like WASM. Would probably solve their performance problems. Canvas is obviously a sensible option for rendering but it looks like it might be another reason why their performance isn't great.
They are actually pretty active on the WASM GC group because yeah I think that is the exact plan in the future to ship Flutter web apps as WASM rather than JS.