"We could break the stranglehold of i386 on the software industry and free developers to experiment with novel CPU architectures without having to worry about whether our favorite language compiles to it." WASM is equivalent to early 80s ISAs but with different opcodes. Native WASM would be most efficient.
Literally the whole point of WASM is fast, sandboxed code. It's not a language, it's an LLVM target. So why turn LLVM IR into a native binary? It's basically the same thing as "native wasm", whatever that would mean. "Native wasm" is just JITed bytecode. Either that, or you're turning it into a normal binary, in which case, why even use WASM?
Also, this is not "JITed bytecode", it is compiled AOT.