This reminds me of the UCSD p-System of the early 1980's.
To port the OS all you had to port was the very small p-Machine emulator (PME). Once you had a bootable PME, everything else, the entire OS, utilities, and all applications instantly came along for the ride, without even being recompiled.
I could only imagine a modern OS that would take an approach like this, but Hotspot JIT everything to native code.