For years JavaScript was only used for very small stuff like changing the color of a button in a mouse over.
The inflection point began lately with the inclusion of XMLHttpRequest [1] which enabled to have web apps instead of static pages with basic transaction forms. Then obviously another inflection point was NodeJS (and Google Chrome launch with the V8 engine).
My point is that the launch of JavaScript in 1985 is independent from it success later.
Beyond this, my personal opinion is that launching a VM specification would be better than announcing a specific programming language. WebAssembly comes very late to the game.