Is it as fast as C? No. Does that mean it's useless? No.
The absolute coolest thing is to take a $2 Wemos D1 clone, put micropython on it, hook it to a sensor (I've been using temp and humidity sensors lately) and have it periodically fetch "http://webserver-ip/temp?t=<value>&p=<value>" every 10 seconds and have a little python webserver sitting on an machine on your network that is stuffing the values into influx or some other DB.
This is trivial to do, and takes little to no embedded coding experience on the ESP8266. That's a win as far as I am concerned.
But it definitely does have issues with memory usage. Personally, I hope that it will become more viable as its development continues and RAM densities increase. I love the syntax and ease-of-use, but I don't love needing a $10 chip for a $1 task. Hopefully it'll be usable for non-trivial tasks on a $1 Cortex-M23 chip in a few years.
It also really shines in educational environments. I see a lot of promise in the progression from MakeCode (primary school) to MicroPython (middle/high school) to programming "real computers" (high school/college). It's a natural progression, and understanding simple microcontrollers takes a lot of the scary "magic" out of learning about complex application processors. See, for example, the BBC micro:bit (which also has a MicroPython BSP).
ArduPy is a combination of Arduino and MicroPython. MicroPython uses the universal Arduino API to control the hardware so that it can be compatible with new platforms quickly. With the help of the aip package manager we provided, you can transform your favorite Arduino library into a MicroPython library.
https://github.com/Seeed-Studio/ArduPy
It works very well on the Seeeduino XIAO (https://www.seeedstudio.com/Seeeduino-XIAO-Arduino-Microcont...) which is arduino compatible and costs $4,90 per piece. You can even get a grove shield for the same price and you are ready to go.
You can buy one of their boards with the BSP but that's over $40, yikes.
To use micropython you need at least an M4 class micro-controller so that a $5 or greater part.
Or you could just stick with C and use a M0 class micro that costs < $1.
A difference of $40 in BOM cost makes it only applicable to the hobbyist. Which is fine, but its just a toy.