Disallowing smc is a significant perf/power win. For cpus that run a large variety of large code (e.g. a web browser or ux stack), being able to cache a large instruction footprint and fetch/decode it quickly is important. Having to have the icache snoop data writes and entangle the i-fetch with the store buffer machinery would be a huge penalty to pay for a niche use case. Unlike loads, which are a small fraction of instructions to disambiguate with stores, you'd have to disambiguate every single instruction.
JIT is important to Apple platforms, and they seem to manage to make it work well enough even with the need for explicit invalidation.