I disagree, compiler optimization and software ecosystem in general already take a really really really long time to build, and I think it'll take longer without a standardized low-level binary interface i.e. ISA to enable rapid distribution.

And the approach you mentioned here:

> a family of ISAs that are ABI compatible such that one can compile down to a semi-pre-optimized portable IR, and just do the last bit per ISA

I think this is basically WebAssembly and PTX, and one may argue, Java bytecode. Yet look at how much efforts and time it took for WASM runtimes and JVMs to actually produce performant machine code (the "last bit per ISA" you mentioned) for just a couple of architectures! (e.g. X86 and ARM). And I wouldn't surprised if NVIDIA pour even more money on building optimization pipeline from PTX to each of their different uArchs.