The products I work on sometimes need to be deployed in environments where JIT code is disallowed due to security constraints. Now, I don't mind if my code runs dog-slow there, but it does still need to run.
Some projects that use JIT techniques work well in this scenario. For example pcre has an opt-in JIT, so at regex-compile time I can decide to stick with the non-JIT implementation and take a speed hit. Everything still works.
I know when V8 was new-ish the party line if you wanted a JITless version was to just have it target ARM and emulate the instruction stream. However I don't know if anyone ever implemented such a beast. It also would be ugly if you wanted to decide at runtime whether to JIT since I don't know how easily V8 can dual-target.
Anyway, if Ignition can run any V8 code maybe we can get an Ignition-only mode? It would also open up a path to running V8/node.js on CPUs that V8 can't target natively yet, albeit somewhat slowly.
An alternative would be to use an js engine like mozilla's (or a purely interpreted one like duktape) but the ecosystem (node and whatnot) seems to have settled on V8 so it definitely would be nice to be able to use.
Apologies if I'm talking nonsense and there's an easy way to do this now.. the last I looked at this problem in depth was pretty early in V8's life. I haven't heard any news about JITless operation though.