It seems to me there is no reason we shouldn't be able to create an "optimizing babel" that could be doing performance optimizations based on the target JS engine and version, as a build step. I don't think we need to go to a completely different source language and a compilation to WASM in order to get permission to create such an optimization tool.
Such a tool would give you the benefits you're praising about the WASM compilation workflow: Separately maintained, engine-specific optimizations that can be applied at build-time and don't mess up the maintainability of your source code.
Such a tool would give you the benefits you're praising about the WASM compilation workflow: Separately maintained, engine-specific optimizations that can be applied at build-time and don't mess up the maintainability of your source code.