If the jvm does, then assembly does.

I think the main reason that this wouldn’t work is that compilation isn’t perfectly reversible. Information is lost.

I think you will always have this problem with translation and it’s a analogous to the idea of two people working on a novel, one in French, the other in English, with neither knowing the other language, expecting the word processor to come up with some lower representation that it can use to translate flawlessly back and forth.