Don't even try to allow inline <svg> from untrusted sources! (and then you still must sanitise any svg files you host)
Even with this being a native API, there are still two parsers that need to be maintained. What a native API achieves is to shift the onus for maintaining synchronicity between the two onto the browser makers. That's not nothing, but it's also not the sort of free lunch that some people naively believe it is.