So if you are building something where you control every SVG ever produced and rendered then this is totally reasonable.

If you ever need to interface with other tools that generate SVG you now need to have a way of essentially transpiling SVG from the wild into your tamed SVGs. Oftentimes this is done by hand, by a software developer and designer (sometimes the same person).

And this is for basic functionality that your designers expect and have trivial controls for in their vector editors, like "add a drop shadow."

The article goes into some issues with sanitization itself, and except for <script> these are a bunch of reasonable things that someone might expect to work or not have issues with. Sandboxing rendering isn't an unreasonable approach if you're not writing the parser and renderer yourself.