Beating V8's GC and JIT would be extremely hard given they're of pretty good quality, and I don't even know if you could write a JIT in WASM (can you?). Do you think implementing an interpreter and a GC in WASM could be faster/smaller than exploiting one of the best JITs out there and easier/smaller than taking advantage of a built-in GC? Moreover, you seem to be giving up on dynamic code loading in exchange for worse performance.
I'm not trying to challenge you, I just work on VMs and I don't understand the thought process behind such an unusual decision, but that could be because I don't know much about WASM. What am I missing?