"The JVM has billions of dollars of engineering effort poured into it. At the same time, it is stil out-performed by low-budget small-team efforts (e.g., LuaJIT, Inferno)."
This seems a truism with respect to many "high value" software products/projects across the computing world. The ones that attract large investment.
The only time I ever use Java is when I use something made by someone else who uses Java. And when their software slows to a crawl or crashes, what can I do? It was not my decision to use Java. It is so pervasive, there's Java on a SIM card, what can a user do? Impossible to avoid.
But as for computers where I can open them up and install my choice of kernel and utilities, I have no need for Java. There is not a single file of Java anywhere in my source tree. I can find code written in terse languages that does everything I need to do with the computer. Code that out-performs Java, easily.
Maybe something written by a small team or even one person. :)
I think that is what makes the ITC field so entertaining. No matter how much cash and how many engineers a company can accumulate, a small team of dedicated people with little to no money, sometimes just one incredible mind sitting at a keyboard, can still create something that wins on performance. Is that not "success" of some sort?
As for Java, I guess it depends on how one defines success.
I like brevity, conciseness, performance and reliablity. Not sure I would label Java as a success under those criteria, but that is just my personal opinion as a user.
In terms of mindshare, Java is a tremendous success.
You mentioned Go. Rob Pikes' OSCON 2010 talk introducing Go had some criticisms of Java with examples. I think he said Java was a symbol of bureaucracy or something to that effect.
Let us celebrate the success of bureaucracy. Congratulations Java.