Because Python is slow, Python is not used in scenarios where speed is crucial. That much is true.
However, if Python was faster, it would be used in those scenarios, so more people would be using it for speed critical code so it would provide real gains for a great many Python programmers.
This is exactly what happened with JavaScript: before V8 JavaScript was in exactly the same position as Python. Not many people were writing large programs in JavaScript because JavaScript was too slow. V8 sped up JavaScript 10x+ and people started writing much larger apps that do require that speed. If JavaScript speed suddenly dropped to pre-V8 speeds, we would all find the most popular web apps unusably slow.
Python is used just about everywhere for just about everything (sometimes properly, sometimes poorly). While there are a lot of web sites that run Python, there are also countless other applications that use it that are unrelated to the web. See Scipy as an example.
That said, the earlier poster mentioning that many people are using Python for IO bound processes is not too far a stretch. Why else would Twisted Python exist, and why would the new Tulip async IO stuff be developed?
(And don't get me wrong, it's an effective approach that plays to the strengths of both languages. But it's not doing "heavy lifting" in python)