Earlier quoted context omitted.
And it is one of the reason why python is slow and difficult to scale on multiple cores (the main difficulty by far of removing the GIL is reference counting).
Scaling Python on multiple cores is easy: you just run multiple Python processes, each with its own per-core GIL. You are correct, though, that ref-counting overhead is one of the main reasons Python is slow.
This sort of analysis is useful, and if the interpreter had been designed to do any optimization along with jitting, would probably come nearly for free. Reference counting could be far far cheaper than it is in python. (How much cheaper? I don't know - it'd need work to figure it out)