To put it another way why not remove existing hardware security abstractions we do have? Ditch virtualization (or hugely strip it back), get rid of different privilege levels, loose page-table enforced permissions. After all you can just build safe software why bother with these things?
I for one don't think this is a sensible line of argument, defence in depth is a good idea, build your software to be as secure as possible then build your hardware such that if there is some flaw in your software's defences you can keep things contained though hardware abstractions.
Even with improved languages there's a giant body of existing code you need to work with, with compartmentalization in CHERI you can keep this stuff safely contained. Plus how do you guarantee everything running on the system has been built in your safe language and compiled with your blessed known good compiler? Feasible in some places (like embedded systems) far less feasible in others.