Yes. When people describe Rust as "a memory-safe programming language" they are describing an aspirational vision, and not a programming language that has actually been designed with sufficient rigor to guarantee memory safety. Any failure of rustc to actually guarantee this is just a bug in rustc itself, a failure to properly implement the Rust spec, because the closest thing Rust has to a spec is literally just the vague ideal that the compiler should guarantee safety somehow.
Rust cannot fail, it can only be failed.