One or other of us may be missing the point (it may be me) - but even in the description you gave, there was nothing to contradict & a lot to confirm that
IL is "a proprietry representation of the symbol tables and tokens in a manner optimised for the back-end executor" - the back-end executor just happens to be a JIT compiler. There is no real reason why a JIT compiler cannot be produced for p-code either.
Len Speed