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Eliminating 90% of memory corruption bugs with clean, well-written C code and proper usage of tooling like UBSan and ASan isn't good enough or comparable to providing memory safety. Full memory safety can be provided for C without proving all the code formally correct.
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Either write it in a subset with annotations specifically to take advantage of memory safety verification (which would not be far from what you want to write naturally in clean code most of the time, but with some adjustments and annotations) or have the compiler do it.
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SQLite still has memory corruption bugs. A subset of those are vulnerabilities. I can link to some of the recent ones, but I don't feel that's necessary. I don't see how it's implausible that C code is still going to have edge cases not totally handled leading to mem corruption.
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What do you mean incompatible with their security policy? They have one of the strongest attempts at writing correct and safe C code that I've seen in any project. They have extensive testing and fuzzing of the database format including applying dynamic analysis features.
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