I don't think its possible to efficiently compile a dynamically-typed language like Python to statically-typed WASM.
(Not even just CPython, but really any dynamic language implementation.)
And then of course wasm could still be used for C extensions.
At some point they realized that representing this low-level code as Javascript text instead of as specially-designed bytecode added a significant ammount of parsing and compilation overhead, which was one of the initial motivations for the creation of WebAssembly. If I had to sum up WASM in one sentence, it is that it is kind of like the JVM, except that its instruction set was designed specifically for running programs downloaded from the web. Special attention was paid to security and startup latency.