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JavaScript is not just a performance tax, it's also a language that is poorly suited to a great number of tasks which we would like to apply web browsers to today.

Not that it is all around terrible, but definitely much preferred if we can choose the best language for the job instead of being strictly stuck with JavaScript.

While Javascript has its flaws, it's been refined over many years and finally there are pretty decent ways of building UI's, using React, Vue etc. Wouldn't we have to start all over again if people begin to write UI code in languages not built or configured for interacting with the DOM?

The W3C spec is now finalised and locked in, and Chrome and Firefox will release Web Assembly completely in their next releases, respectively.

It looks very promising, most major players have experimental support for web assembly already.