Added up, it is easily more than 30s per line.
30s per line of current Python code, not compiler code.
And I'm just providing a number to put some numbers out there. 30s/line to convert a Python program to something fundamentally different like Go is probably an underestimate, yes, but then, if it's an underestimate that means the budget for the Python reimplementation is that much larger.
It also really helps the "subtle issues" when you control both the implementation and the code running on it; it means for every subtle issue discovered you have the option of either fixing the implementation or fixing the original code not to tickle the corner case. It's much harder when you only control one side or the other. It's not Google that will be having massive problems with corner cases.
Of course, if it started out as a "this seems like a cool project", that skews the "a is more efficient than b" ratio significantly.
There's a reason why the large companies often end up working on new runtimes/interpreters/compilers like HipHop for PHP, Hack, and so on, rather than working on the code bases written in those languages. It is very easy for it to not just be easier to leverage in at that level, but an order of magnitude or two easier. Or three.