You can swim there if you want! there's a picture with ppl swimming in Viennas canal (Donaukanal) on the website and there's a whole association around it which claims 300+ members: https://schwimmvereindonaukanal.org/.
That being said, Donauinsel is still quite close to the center and I personally prefer the relative quietness and greenery around there to swimming in the canal.
Yea, Alte and Neu Donau are safe but Donau and Kanal... I see people do it with a balloon strapped to their waist for visibility to boats, but I wouldn't do it.
Those pontoon ferry boats travel over 30 km/h on the Kanal.
Yeah, but I see plenty of potential for improvement to make it more accessible. Start with the information, even many Viennese I've met don't know swimming in the canal is allowed. Putting up some signposts at places suitable for swimming would be great.
And enough water in the Wien to even contemplate it :D