In a world where all software is JITted (Java gang rise up), the fixedness of a VLIW ISA doesn't matter, because you always compile specifically for the target machine anyway. What you describe sounds like applying that strength of JITting to AOT-compiled code.

Vaguely related ideas from the distant past are ANDF:

https://en.wikipedia.org/wiki/Architecture_Neutral_Distribut...

And TaOS's VP Code:

https://sites.google.com/site/dicknewsite/home/computing/byt...