> Just because your app is stalling on db queries doesn't mean it's "IO bound".
OK, "IO bound" may not be the best description in this case. Because you're bound not by your ethernet card or operating system drivers, but literally by the work that's happening on a separate, database server's CPU. I should work on my terminology, thanks for the correction.
In my experience, it is usually waiting for DB. Regardless of whether your web app is well or badly written, it would get, at my estimate, would get no more than 5-10% request time improvement even if you made the app CPU infinitely fast, as 90-95% of the time is taken waiting for that database query.
But if you spend the same developer time rewriting all your ORM-generated n + 1 select statements to a single SQL query, you would still spend the same proportion of time waiting for the database, but your overall latency would get 10 times less. I've had some situations where I could get 10-20 time performance improvements by not touching application code at all, just tweaking the database indexes.
So, rewriting it all in a new language where you can, at most, 10% improvement, while you probably have areas where you can get 200-500% improvements seems unwise.