Well, by typing out such a well thought out and complete answer, I'd say it's value as an interview question has been somewhat diminished. Otherwise, a great writeup!
You can still ask "What's going on at the byte level on the wire?" or "What's going on in the GPU when it renders the page?" or "What's going on inside Django when it computes what code to invoke?" or "What's going on inside the Python interpreter when it executes it?" The beauty of the question is that it's almost infinitely deep, and there's nowhere near enough time to answer it all in an interview, and the depth to which the candidate can go tells you a lot about where their specialty lies.