> this deeply-mediocre format
Most of the "popular" publicly available formats at the time were singularly worse, even ignoring commonly limited or inconvenient language support.
SOAP? ASN.1? plists? CSV? uuencode? I'll still take JSON over all of them, especially when it comes to sending shit to the browser (plists might be workable with a library isolating you from it, but it is way too capable for server to browser communications, or even S2S for that matter not all languages expose a URL or an OSet type).
> it was especially natural & fast to serialize/deserialize in JavaScript, on account of being a subset of that language.
That is certainly a factor, specifically that you could parse it "natively", initially via eval, and relatively quickly[0] via built-in JSON support (for more safety as the eval methods needed a few tricks to avoid full RCE).
But an other factor was almost certainly that it's simple to parse and the data model is a lower common denominator for pretty much every dynamically typed language. And you didn't need to waste time on schemas and codegen, which at the time was a breath of fresh air.
> XML also had the "fast" going for it thanks to browser APIs, but not so much the "natural"
XML never has "fast" going on in any situation, the browser XML APIs are horrible, and you had to implement whatever serialization format you wanted in javascript over that, so that was even slower (especially at a time when JS was mostly interpreted)
[0] compared to the time it started being used: Crockford invented / extracted JSON in 2001, but services started using JSON with the rise of webapps / ajax in the mid aughts, and all of Firefox, Chrome, and Safari added native json support mid-2009