Earlier quoted context omitted.
Doesn't ARM code emulated on x86 (and vice versa) perform even worse than WebAssembly? Isn't that essentially what you would get with a lower-level "optimized compiled result of LLVM"?
Does the fact that ARM is a bad choice disproves all other choices other than WASM? I'm not sure this is a good argument here. Lower-level bytecodes are more flourishing than just ARM.
Do you have an example in mind of a lower-level instruction set that can be efficiently translated to different real-world ISAs?