Stack-based vs register-based instruction sets are a very clear size vs speed tradeoff. That's also one reason that the Java VM was designed with a stack architecture, though in that case, it was download time they wanted to minimize.
The whole thing with UCSD having to essentially "give away" the p-System to a separate commercial entity is a sad part of the history, for sure.
Compare with UC Berkeley's BSD UNIX, which was originally open sourced in 1988 (though hamstrung from 1992-94 by the Unix lawsuit, opening the way for Linux), and happens to be running in the system I'm typing on...
It appears that UCSD eventually (2006?) made the p-System 1.5 source code available for download, but unfortunately non-commercial only (CC BY-NC-SA?) rather than BSD, etc.