It is basically the same deal over and over. We need to reduce complexity in programming, so we build yet another abstraction layer. We hide the complexity from the programmer and deal with it in the infrastructure, thus creating more bugs and worse performance. The bugs get (very) slowly fixed and the performance issues are compensated by evolving hardware, which takes a few years. Such is life. If it were not for some initiatives like this one, SAP would be written in machine code.
That is not to say that this is the solution to all problems, neither that this is even the best alternative for anything, but it's just the way that software evolves, and as such, time will tell.