Well, JavaScript was really horrible when it came out. It was just about the worst major programming language ever made. It sort of reminds me of an interpreter I threw together for a programming language I invented when I was in high school, when I really didn't get any aspect of programming language design, and I based it on a misunderstanding of Lisp.
Given its central role, lots of people used JavaScript, and lots of smart people tried to fix it. Every few years, it'd get a lot better. It actually made sense to rewrite everything -- you got that multi-fold improvement in productivity going 1995 JS to 2000 JS, 2005 JS to 2010 JS, and so on. I mean, with each iteration, it was still obnoxiously bad, but it was that much less bad.
It looked like an exponential growth curve for a while, but you always knew it was an S-curve -- you hit an inflection point when you reach the level of competently-designed programming languages.
At some point in the past five years, JavaScript stopped being really bad. I mean, it's no Python, but it's at least within spitting range. Heck, it's better than Java. I won't even lose 2x productivity writing in JavaScript over best-of-breed languages, at least core language (ecosystem aside -- there is no numpy/scipy/pylab -- but that will come too).
With that, rewrites every five years no longer make sense. Unless there's some fundamental progress in computing, I expect JavaScript code I write today may still be used in 20 years. That's not something I would have said in 2010 or 2000.