Many programmers obsess over performance, but the fact is, in today's computing world, performance is a non-issue in most situations. That's why Python, PHP, Ruby, and Perl are so useful and popular. That's why Erlang/Elixir absolutely rock for concurrent systems. That's why Smalltalk is used commercially around the world. Performance is not the be-all, end-all of computing.
As far as I'm aware the ideas used in hotspot began with Self[1], which was also the inspiration for Javascript's prototypical inheritance. Strongtalk[2] adapted these to the class/instance programming style of Smalltalk, then Sun bought them for application to Java.
[1] https://en.wikipedia.org/wiki/Self_(programming_language)