Some companies are looking at compiled Java. For that reason, Java applets really can't be as fast as code written for the specific OS platform and compiled before use, the way software is typically deployed to users. Now, suppose you write your pure Java application, compile it, and then deliver it to your customers. In this kind of scenario, Java just becomes a computer language like any other, but better-designed than most. You can always go back to the source code and recompile for a different platform if you wish, or run it the way Java is usually run, compiling as it executes.
Nothing is lost.
Ok, say you're a developer. Maybe even Solaris. Write once, run anywhere. Half the corporate copies of Office97 haven't been installed as businesses cut back on software thrash. It has been almost amusing to watch the Compaq and Gateway execs.