Common Lisp also allows you to redefine everything at runtime but doesn't suffer from the same performance issues that Python has, does it? Doe anyone have insight into this?
Usually comes down from a urban myth that Python is special and there was no other dynamic language before it came to be.
The JIT research on those platforms is what gave us leading JIT capabilities on modern runtimes, OpenJDK HotSpot traces back to Smalltalk and StrongTalk, while V8 traces back to SELF.
Especially in Smalltalk and SELF, you can change anything at any time across the whole image, and have the JIT pick up on that and re-optimize.
Granted what messes up Python, or better said CPython implemenation, is that C extensions are allowed to mess up with its internals thus making void many possible optimizations that would be otherwise available.
A reason why JVM, CLR, V8, ART make use of handles and have marshaling layers not allowing such kind of liberties with native extensions.