Of course the answer is positive.

But it will take a drastic / complete rewrite of the VM, as it happened to Chrome's and Firefox's JavaScript VMs.

This means many man-years, and a certain break in the continuity, maybe with small but noticeable deviation in the VM's behavior. If we squint just so, we can consider Ruby 3.0 to be such a rewrite.

Crystal is a similar rewrite effort, but a one that isn't trying to stay backwards-compatible.