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This may seem like a dumb question, but what's the point? Is it just some kind of turtles all the way down exercise?
The main goal is to produce a Ruby implementation with a good high-level design and an accessible implementation. This will make it easier to optimize the implementation, and to experiment with changes to the implementation or the language. Unlike some other Ruby implementations, Rubinius also intends to be compatible with C extensions written for MRI.