Caching of compiled code! As i read it they want to cache the wasm bytecode at the client level. What if servers did the caching instead? Group clients by the architectures they use and serve the cached bytecode to the right 'groups' of clients.
That would assume you trust the server not to give you malicious machine code (which you of course cannot!). wasm is specified in such a way that it is still sandboxed by the VM that compiles it. If you fetch arbitrary machine code, you cannot verify it and that leads to huge security holes!