That's not, strictly speaking, true. Mozilla added a method-JIT (Jaegermonkey) and then added another one (IonMonkey) because their tracing JIT (Tracemonkey) was bad. There's no fundamental reason that tracing has to only cover loops, indeed PyPy's tracing has been generalized to compile individual functions, recursion, etc. And any profiling JIT, in practice, needs a compile heuristic for how many calls must occur before a unit is compiled, even the Hotspot JVM has one.
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