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Intuitively (hard to articulate) this seems to create a push away from nested data structures (easy to express with random access which is hard in Forth), towards thinking of interpreters and protocols. Akin to the idea to "replace data structures with folds".
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There is room to move Chuck's ideas into today's "meta heavy" world, and I think he's right to push this into the hardware realm. Gut feeling is that these ideas make most sense at the level of HW/SW co-design. It's the right time, since FPGAs are so cheap these days.