I am going to answer this question in a roundabout way: first showing examples of different code gen in Rust, because it is more straightforward, but then I will reach for an example with Ruby, because I know it better than Python, but I believe it is similar enough that you will get the gist.

If I write a function like this in Rust:

pub fn add(x: i32, y: i32) -> i32 {
x + y
}

this will compile to this assembly (on x86_64):

add:
leal (%rdi,%rsi), %eax
retq

two instructions. This is because in Rust, free functions exist, have a name, and they are called by name. There's an additional twist here though too, let's check it out in debug mode, with optimizations off:

add:
subq $24, %rsp
movl %edi, 16(%rsp)
movl %esi, 20(%rsp)
addl %esi, %edi
movl %edi, 12(%rsp)
seto %al
testb $1, %al
jne .LBB0_2
movl 12(%rsp), %eax
addq $24, %rsp
retq

.LBB0_2:
leaq str.0(%rip), %rdi
leaq .L__unnamed_1(%rip), %rdx
movq core::panicking::panic@GOTPCREL(%rip), %rax
movl $28, %esi
callq *%rax
ud2

There's a few things going on here, but the core of it is that in Rust, in debug mode, overflow of addition is checked, but in release mode, wrapping is okay, and so the compiler can eliminate the error path. This is an example of language semantics dictating particular implementation: if I require overflow checks, I am going to get more code, because I have to perform the check. If I do not require the checks, I get less code, because I do not perform the checks. (Where this gets more interesting is in larger examples where the checks get elided because the compiler can prove they aren't necessary, but this is already a tangent of a tangent.)

In Ruby, there are no free functions. If I write a similar add function:

def add(x, y)
x + y
end

This function is not a free function: it is a new private method on the Object class. When you invoke a function in Ruby, it's not like Rust, where you simply find the function with the name you're invoking, and then call it. You instead perform "method lookup," which has some details I will elide, but for the purposes of this discussion, the idea is that you first look at the receiver to see if it has the add method defined, and then if it does not, you look at the receivers' parent class, and if it's not there, you keep going until you hit the top of the hierarchy. Once the method definition is found, you then invoke it.

Now, it's not as if Rust doesn't also have method lookup (though the algorithm is entirely different), but Rust's design means that method lookup (in the vast majority of cases) is a compile-time thing: the lookup happens while you're building the software, and then at runtime, it simply calls the function that you found.

So why can't Ruby run method lookup at compile time? Well, for one, I left out an important second step: Ruby provides a method called method_missing, as a metaprogramming tool. What this means is, if we look the whole way up the object hierarchy and do not find a method named add, we will then re-traverse the entire ancestor tree again, instead invoking each class's method_missing method on the way. method missing takes the name of the method that was trying to be called, the arguments to it, and any block passed to it, and you can then do stuff to figure out if you want to handle this. This means that, even if no add function is defined, it still may be possible for the call to succeed, thanks to a method_missing handler.

Okay well why can't we do that at compile time? Well, Ruby also lets you redefine functions at runtime at basically any time. The define_method method can be called and generate a method on anything, anywhere you want, for whatever reason. You could do this based on user input, even! And yes, that would be a terrible idea, and you probably shouldn't do it, but the implementation of the language requires at least some sort of runtime computation to pull this off in the general case.

Now, I also want to point out that in my understanding, there's caching on method lookup, so that can help reduce the cost in many scenarios. But the point stands that the language has features that Rust does not, and those features mean that certain things must be more expensive than languages that do not have those features.

> can we can imagine an alternate universe Python that's as close as possible to our Python, except really fast? What would be different?

We could, but you lose compatibility with most Python code, and so you're effectively creating a new language. People do try this though, Mojo being an example of this very recently. I am excited to see how it goes.