Compilers often just build up more and more data structures in memory until the end when they then release everything more or less at once. With an arena you can then just throw away the whole arena at the end, assuming there are no resource handles that need to be closed in drop().

A long time ago I read an article about someone speeding up a C++ compiler that is itself written in C++ (was it g++? maybe clang?). They simply patched out delete so it did nothing. The compiler used marginally more memory but ran much faster, since releasing all the small objects one by one is just useless work at the end of the compilation.

A GCed language has a similar behavior and could therefore be fast in that case. It just builds up all the objects and then when the program exists it doesn't have to GC them all, it just throws away the whole process memory. So I can imagine one could "optimize" a compiler written in a GCed language by deactivating the GC.