In case it’s useful for anyone else, if you run the ___.bin installer and see this:
Error occurred during initialization of VM
Check if rt.jar exists in the unpacked directory. If it does not, check if rt.pack exists. If it does, it means that the installer is missing a step.
Rerunning with the command-line options:
"____.bin --accept-license --unpack"
…will fix what ails you by making it unpack those files. If you no longer have the installer, google indicates that there is a program out there called “unpack200” to unpack the .pack files to .jar, but I have not had a chance to try it.