The way that coding language and deployment/executable language have been tied together (JS for both) has served as a force that pushed everyone toward that single language.
Now that WebAssembly promises to remove that force, will it be a free-for-all, or will other forces push toward standardization on a few languages? And if so, what will those forces be?
To be even more specific, in the early days now, the main allure of wasm is performance. So the focus will be on languages and toolchains capable of generating optimized native code. Out of those, look at which ones are easy for the developer to set up (both in general, and for wasm) on all popular developer OSes.
So, I'd say that Rust will probably be the biggest beneficiary.
I imagine binary size would be a concern for web development, what is a negative for complex runtimes... But then, if I carefully set the compiler to trim dead code, my Haskell email server is smaller than any modern JS framework (still larger than a new version Jquery), so the runtime may not actually make much of a difference.
The drawback of JavaScript has so far been its low execution speed, maybe WASM will make it run faster.
In other words maybe WASM will not be the downfall of JavaScript but its uplift.
In short, I suspect the actual instructions executed when JS runs on a modern interpreter are already pretty damn close to what a fairly well-optimized JS-to-WASM compiler would provide. If you want more major gains I think you'd have to start looking at locking down (or at least providing the option to lock down, in performance-critical code) the ability of Javascript to do all kinds of wacky stuff at runtime.