--- EDIT ---
@saagarjha, as I'm being slowposted by HN, here's my response via edit:
OK, sure! You need some agreed semantics for that, at the low level. But the hardware guys aren't likely to add actors in the silicon. And they presumably don't intend to support eg. hardware level malloc, nor hardware level general expression evaluation[0], nor hardware level function calling complete with full argument handling, nor fopen, nor much more.
BTW "The metal which largely respects C's semantics?" C semantics were modelled after real machinery, which is why C has variables which can be assigned to, and arrays which follow very closely actual memory layout, and pointers which are for the hardware's address handling. If the C designers could follow theory rather than hardware, well, look at lisp.
[0] IIRC the PDPs had polynomial evaluation in hardware.