The log suggests the device is doing everything correctly. The exploit webpage requires huge amounts of memory to render correctly. It is consuming all the available memory causing allocations for backboardd to fail. The kernel then starts killing off idle processes to free up memory.
Yeah. Of course it shouldn’t be possible, but I guess no one had thought of it before or they thought the risk was too low because they figured you’d have to make an app to do it not some random HTML on a webpage.
I don't see a kernel panic there.