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I think you vastly underestimate the number of man-hours that some of those steps would take. I'm talking specifically about steps 1, 2, 3, and 4.

Rumour has it that JS was built in 10 days. How long does one need to do better.

2, 3, and 4 weren't problems back then

There's a lot more to the browser than JS.

And you don't need to do better than JS in 1995. You need to do better than JS _today_.