An emulator is a very different use case than Firefox's JIT.
Take Dolphin (the Gamecube / Wii emulator) for example: you have a 4GiB DVD, it has a massive 80-hour game's entire code engine on there. You cannot recompile the entire disc at startup. Even if you could (you really can't), these games tend to push code into RAM to execute, which a static recompiler cannot handle.
The way dynamic recompilers handle the tremendous burden is to recompile small blocks at a time, and track which ones are hot and cold. When the buffers fill up, they start dropping old, stale code.
It's hard to say exactly what the performance impact would be, and it'd probably vary per game title. But it'd be a lot worse than a web browser recompiling jQuery plus another 200KiB of custom Javascript once on page load.
Plus, I am sure there are many more uses cases for W|X than just emulators and JITs. It would be a shame to try and eradicate them all from existence.