Part of working your way back to reality can often require new hardware to be made or -- in the case of the days of microcode -- to shape the hardware.
There are lots of things vendors could do. For example: Intel could make its first level caches large enough to make real HLL emulators (and they could look at what else would help). Right now a plug-in or available FPGA could be of great use in many areas. From another direction, one could think of much better ways to organize memory architectures, especially for multi-core chips where they are quite starved.
And so on. We've gone very far down the road of "not very good" matchups, and of vendors getting programmers to make their CPUs useful rather than the exact opposite approach. This is too large a subject for today's AMA.