Being able to handle spikes and iterate quickly is probably more important.
In other words, Facebook felt compelled to write a compiler when they had hundreds of millions daily active users.
They're using a derived language called Hack.
> Does the compiled code use a garbage collector? Or reference counting?
Not sure but it's open source so I'm sure you can dig up the answers one way or another: https://github.com/facebook/hhvm
It's not the end of the world because they have deep pockets and a problem domain where preserving the interface (I.e., keep everything still running on PHP) and optimizing the infrastructure that provides it is more cost effective and least disruptive than switching to a tech stack that is more performant.