> Also, woldn't the act of compiling to c as an intermediate step increase the 
> compilation time?

Yes

> And wouldn't the compilation time be limited by the c compiler speed?

Yes

However, you're either ignoring the tradeoffs or discounting them greatly. 
Compiling directly to machine code means that you have to support every CPU, 
every surrounding machine architecture, every operating system ABI, every 
operating system API, and probably others I've forgotten. Someone has to write 
the code for that, and it isn't a one-time job; it has to be updated for every 
new CPU, for every new architecture, and every time Linus Torvalds gets it in 
his head that the Linux ABI has to change.

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