I don't think the runtime is "much more advanced", the JVM has had most of these optimizations for years.
An ArrayList<Float> is a list of pointers though.
Eventually value classes might close the gap, finally available as EA.
Doing a Python 3 would mean no one wanted going to adopt it.
Yes it is long process.
Some of the JEP in the last versions are the initial baby steps for integration.
Free for some (most?) use cases these days.
Basically enterprise edition does not exist anymore as it became the "Oracle GraalVM" with a new license.