What's the rationale behind making "function" const? Is there a
  performance reason?

you can't do

function foo() 0 end
foo = 10

but you can still change the function's definition (so it's methods;
even if the generic remains the same object I guess), and besides, you
can however do this:

bar = () -> 0
bar = 10

Oh, maybe the fact that foo is a generic function but bar an anonymous
one matters?

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