What does that have to do with the VM implementation?
> fault tolerance
True, that is a good selling point -- in theory. Indeed, BEAM's process isolation is better than the JVM's on paper. In practice, so many Erlang systems have so much C in them (because Erlang isn't fast enough for the data plane), that they can still bring down the entire VM (not as if there aren't other ways of doing that even without native code), or they interfere with one another in other ways because of BEAM's poor support for shared concurrent data structures.
> low latency variation
Nothing that can't be achieved on the JVM. Much of the low-latency Erlang enjoys is because relatively little data is kept on the Erlang heap anyway, and whatever significant amount of data is kept on the Erlang heap, it's in non-GCed ETS. If that's your way of achieving low latency variation, Erlang can do better on HotSpot.
> Besides that, god prevent erlang to become just-another-JVM-language, I embrace competition.
If your goal is not to have the best language environment you can but to show the world you have impressive results for the effort you've put in, then that's a whole other discussion.
And if all you want is competition, you can have Erlang on BEAM and the JVM. Why tie the language to one VM? Many JVM languages also compile to JavaScript, too (Clojure, Kotlin, Scala, Fantom and probably more)