Earlier quoted context omitted.
Yep. Translation technologies like NAT64 and company basically as good a job as can be hoped for. And they're quite good nowadays! But to stick with the ASCII->UTF-8 comparison: how would you have done the transition if you had to stay within ASCII's size of 7 bits?
https://en.wikipedia.org/wiki/UTF-7 exists, but was rarely used. UTF-8 is convenient because ASCII has a spare bit, but UTF-8 is fundamentally possible because ASCII is variable-length. IPv4 is not variable-length.
I get the impression that this fact is fundamentally lost on a lot of the people who want a "compatible" IPv6. Like, their mental model does not distinguish between how we as humans write down an IPv4 address in text and how that address is represented in the packet.
So they think "let's just add a couple more dots and numerals and keep everything else the same"