Does anybody know if they considered a similar thing to what HotPy (2) [0] did?
I'm not anywhere near to understanding the implementation details, but HotPy stood up most when I looked into different Python implementations. Basically, it was a fork of an early development version of CPython 3.3 code, with more bytecodes added (which were easier to optimize than the originals), a tracing engine and some other things I don't understand. The best thing is you get language compatibilitity for free and it is also binary compatible with CPython extensions.
Unfortunately its development looks to be ceased.