Will Mago implement a PHP runtime?
Absolutely not. The PHP runtime is incredibly complex. Major efforts by large companies (e.g., Facebook's HHVM, VK's KPHP) have struggled to reach full parity with Zend Engine. Achieving this as a smaller project is infeasible and would lead to community fragmentation. We are focused on tooling, not runtimes.
A transpiler might read PHP and spit out C, or Java or some other existing programming language, spitting out the code for a virtual machine doesn't make you a transpiler unless you're going to argue that all compilers are just transpilers, it's like one of those "Actually goats are fish" arguments. OK, but now the word "fish" is useless so why go to this bother ?
Say this to the team behind Ladybird browser: https://awesomekling.substack.com/p/how-were-building-a-brow...
(Items 5 and 3 on the list in the linked page.)