There are hybrid systems that combine the prompt deallocation of pure reference counting with the superior throughput of tracing garbage collection.
Part of the reason I really dislike the "reference counting vs. garbage collection" debate, and keep emphasizing that reference counting is garbage collection, is that it sets up this false dichotomy. In reality, there are all sorts of automatic memory management schemes that combine aspects of reference counting with tracing in different ways, most of which were created in the 80s and 90s. Sadly, almost nobody in industry is aware of this enormous body of work, and the simplistic "RC vs. GC" model has stuck in everyone's heads. :(
Part of the reason I really dislike the "reference counting vs. garbage collection" debate, and keep emphasizing that reference counting is garbage collection, is that it sets up this false dichotomy. In reality, there are all sorts of automatic memory management schemes that combine aspects of reference counting with tracing in different ways, most of which were created in the 80s and 90s. Sadly, almost nobody in industry is aware of this enormous body of work, and the simplistic "RC vs. GC" model has stuck in everyone's heads. :(