Why would you say it sucks? What Java applications do you use to validate your assertions? Perhaps they are just bad applications. I've been a Java developer since 1999 and I have been using the Mac exclusively for development for 5 years and it performs just fine. In fact, with comparable machines I find that the Mac compiles and executes Java faster than my Windows counterparts at the office (probably due to NTFS). In fact, we have a sort of revolution at my company where developers are dropping Windows for OS X. Some have dropped Linux for OS X.
I use IntelliJ IDEA and AppCode all day (not to mention all the server-side software) every day and I love it.
Bottom line is Java is HUGE in the services arena. Perhaps not big on the desktop. So, those of us using Macs to develop system software are very happy with the performance. I don't care much for BS micro-benchmark crap that doesn't make a difference in the world.
Anyway, I'm not starting an argument, just trying to clear up the FUD.
I also have a hypothesis as to why there are a lot of crappy Java applications: bad developers. Java (or the JVM) is a great platform. It (Java) draws in a LOT of developers because of it's simplicity (multi-platform support, tooling, compilers) and ubiquity within academia. There are now a lot of inexperienced developers out there writing bad multithreaded code. Most developers that write user interfaces in Swing do not understand how to do it. It's not Java's fault, it's the developer.