I would much prefer having a sane new language replacing JavaScript instead of this hack to improve performance. A new language could provide the same performance advantage and make writing web applications much more pleasant. Admittedly it is harder to introduce a new language across all (major) browser but I think it would really be worth it.
1. "Sane" is highly subjective. There is no single optimal language for all problems and audiences.
2. Pushing a new language to all major browsers is hard, like you said. Maybe even impossible, several huge corporations with complex politics are involved.
Google is trying this approach with Dart, and I personally don't think it's the panacea, nor do I expect all major browsers to support it.
So the only alternative I see is to have a very flexible VM that can run pretty much any language. asm.js proves that JS is actually quite good at that. I'd still prefer something like native client, but asm.js is highly promising: It's downwards compatible and has some potential for optimisation at the same time.