Bitcode did not allow recompilation to take advantage of new instructions. They dropped bitcode because they never actually managed to do anything with it other than the armvk7 to arm64_32 recompilation, and that required specifically designing arm64_32 around what was possible with bitcode.
Updating apps to use new vector instructions is far more complicated than upgrading to a new compiler version and having it magically get faster.
SME is very specialized, right now no compiler (that I know of) is really able to take general-purpose code and output optimized SME. So for these instructions at least, bitcode wouldn’t be of any benefit.
Updating apps to use new vector instructions is far more complicated than upgrading to a new compiler version and having it magically get faster.