Performance analysis indicates that SQLite spends very little time doing bytecode decoding and dispatch. Most CPU cycles are consumed in walking B-Trees, doing value comparisons, and decoding records - all of which happens in compiled C code. Bytecode dispatch is using less than 3% of the total CPU time, according to my measurements.
So at least in the case of SQLite, compiling all the way down to machine code might provide a performance boost 3% or less. That's not very much, considering the size, complexity, and portability costs involved.
A key point to keep in mind is that SQLite bytecodes tend to be very high-level (create a B-Tree cursor, position a B-Tree cursor, extract a specific column from a record, etc). You might have had prior experience with bytecode that is lower level (add two numbers, move a value from one memory location to another, jump if the result is non-zero, etc). The ratio of bytecode overhead to actual work done is much higher with low-level bytecode. SQLite also does these kinds of low-level bytecodes, but most of its time is spent inside of high-level bytecodes, where the bytecode overhead is negligible compared to the amount of work being done.
So at least in the case of SQLite, compiling all the way down to machine code might provide a performance boost 3% or less. That's not very much, considering the size, complexity, and portability costs involved.
A key point to keep in mind is that SQLite bytecodes tend to be very high-level (create a B-Tree cursor, position a B-Tree cursor, extract a specific column from a record, etc). You might have had prior experience with bytecode that is lower level (add two numbers, move a value from one memory location to another, jump if the result is non-zero, etc). The ratio of bytecode overhead to actual work done is much higher with low-level bytecode. SQLite also does these kinds of low-level bytecodes, but most of its time is spent inside of high-level bytecodes, where the bytecode overhead is negligible compared to the amount of work being done.