What would happen if we adopted: https://make-linux-fast-again.com/
Assume the system is used for development and general browsing.
Are there any cases of these vulnerabilities being exploited in the wild, (especially by websites)?
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Simply put: You would undo a lot of mitigations.
Whenever a vulnerability like Spectre or Meltdown comes along, people run to see who should deploy the patch. Browser vendors (quite rightfully so), claim that fixing CPU bugs is not something they are responsible for. It would make sense to patch it on an OS level, as that would mean not every application would have to take care of it themselves.
As a result, if you would disable all these mitigations, you become potentially vulnerable to those attacks.
So the answer is basically the same as with disabling any other security features: Proceed at your own risk.