I took a quick look at github, didn't see an option to compile to iptables. That would be an interesting use case for me.
Compiling to iptables would be incredibly slow and miss the advantages. Plus, p4 is more general than iptables so many p4 programs could not be expressed as iptables.
For very high performance packet generation and processing the Linux kernel is sub-par because it's extremely complex and general purpose. There is just too much going on.
example:
did you mean bpf ?