> the “Ox” in the name is to evoke “oxidizing”

Hah, I was reading it as `0x`, a common prefix indicating hexadecimal, though I can't say my brain made any leap as to why "0xCAML" would be any more hex than standard.

Agreed with this. OxCaml still requires a runtime, so it's not suitable for some applications, like embedded systems, where e.g. Rust can be used. But it certainly can be used for many of the same applications. E.g. Bun, which has been on the home page recently, could easily be written in OxCaml.