I think this is interesting, but I'm wondering why there isn't a corresponding project for Python. It seems like people using Python could derive the exact same benefits, so, why doesn't the Python version exist of this project?

But there are various projects for Python.

For example, there's Pyston [0] which was started by Dropbox. Or Cinder [1] which was started by Facebook. Or PyPy [2].

[0] https://github.com/pyston/pyston

[1] https://github.com/facebookincubator/cinder

[2] https://www.pypy.org/