My biggest concern is that there's an Enterprise Edition of GraalVM. I'm a little suspicious that the Community Edition will end up crippled and EE will cost more money than I'll ever want to spend.
Do you believe Oracle or anyone will accept that?
Because if not, that's a clear problem.
(FWIW I strongly doubt they would be okay with this)
I'm sure if you were producing a much faster GraalVM, you'd soon get people to move away from Oracle's one to yours (MariaDB vs MySQL springs to mind as a comparison)
Taking into account amount of resources they have, this will be enough to shut you down ;)