Earlier quoted context omitted.
V8 has little to do with Oracle, fundamentally. V8 came about because they wanted a higher performance JS VM for their browser; the JVM was never in contention there.
Sure it does. Why did they want a higher performance JS VM for the browser? The language of choice to build interactive applications on the web before JS was really viable was Java. A high performance JS VM means we don't need to use applets anymore.
Java applets were already considered a dying tech when Google made their push to heavily-Javascript-dependent apps, and the performance requirements that led to.
Note also that despite the similar name, Javascript and Java have technically nothing to do with each other. It is a quirk of business history [1] that Netscape and Sun partnered to name Javascript as it is when Sun was first pushing Java as a web technology.
[1] https://en.wikipedia.org/wiki/JavaScript#Beginnings_at_Netsc...