Compare this with PUC Lua [2], which seems to have very few bugs: only 4 in 5.3.3 and 3 in 5.3.2.
LuaJIT and PUC Lua appear to be very similar superficially ("LuaJIT is Lua, but fast"). The relative bug counts reinforce the fact that in the details, the two implementations are very different - for example, LuaJIT uses a lot of assembly language while PUC Lua is pure C89.
The advantages of LuaJIT over PUC Lua seem to be performance and its FFI. I thought PUC Lua's only advantage was portability, but perhaps PUC Lua is also a generally more "correct" implementation?