I've been programming C++ and assembly for 23 years. Few years ago I became a huge fan of Python. In my opinion Python is amazingly well suited for rapid first revision and can then be swapped out for C++ / asm.
This is fine as long as you can convince management to spend the money to rewrite your software. That's usually a hard sell though. In my experience this plan usually ends up with a python monstrosity that everyone hates but is forced to deal with forever.
You just have to write a tiny part that uses a lot of CPU in C++/asm or anything else.
Much of code's performance isn't really reflected on to the scalability since mostly a tiny part of code is really ran a lot of time, and the other parts are just glues or management stuff or rarely used(not used in scale) features.
It depends. You aren't going to make a very fast modern codec encoder or decoder using Python. The hotspot ends up being the vast majority of the process. That management/glue layer becomes very thin, amounting only to feeding in the bitstream and reading back the raw video frames.