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Losing any control of java might hurt $$$ pocket. Example of losing dollars is that some might lose interest in buying Sun tools.
Let me say this about java performance before anyone bashes . If java had gone with a pure interperator and a choice of a real compiler to native code instead of bytecodes with VM then I think lot wouldn't be critical of java performance and startup time. I don't think people understand the java byte code compiler and time it takes. Nobody complains of python or perl performance. They are both real snappy because of no need to compile to bytecodes.
Example of interperator and true c compiler is Euphoria. It's kind of like C. http://www.rapideuphoria.com/