This is one of the nicer ones.
It looks pretty conservative in it's use of Rust's advanced features. The code looks pretty easy to read and follow. There's actually a decent amount of comments (for rust code).
Not bad!
But then there's this Arc, Ref, Pinning and what not - how deep is that rabbit hole?
The _static_ borrow checker can only check what is _statically_ verifiable, which is but a subset of valid programs. There are few things more frustrating than doing something you know is correct, but that you cannot express in your language.
Arc is nothing more than reference counting. C++ can do that too, and I'm sure there are C libraries for it. That's not an admission of anything, it's actually solving the problem rather than ignoring it and hoping it doesn't crash your program in fun and unexpected ways.
Using Arc also comes with a performance hit because validation needs to be done at runtime. You can go back to the faster C/C++ style data exchange by wrapping your code in unsafe {} blocks, though, but the risks of memory corruption, concurrent access, and using deallocated memory are on you if you do it, and those are generally the whole reason people pick Rust over C++ in the first place.