Definitely ahead of its time. For awhile it was possible to run the same applications on IBM, Apple II, TI-99/4A and more but it was cumbersome and it never had a "killer app".

It was also difficult to transfer files between disparate platforms in those days. If there had ever been a p-code applications market, distribution would have still required separate boxed copies for different platforms.

Then again you wouldn't have the initial JVM bytecode interpreter without p-code and the p-system, which were the bytecode and runtime environment used by UCSD Pascal. These were a direct inspiration for the Sun engineers developing Java.