Part of the reason Instagram can get away with this is they likely have almost complete control of their dependencies and the like. But the changes they decide to make would not just work for everything.
That being said I think we could get a lot of neat PEPs from this.
EDIT: this is just my opinion , but in a world where we have type annotations, JITs feel like a massive step back. Stuff like mypyc could get us way further into high performance stuff (and no black box hand waving for perf things).