Oops. Meant to send this to this list but sent it privately. Here's a second try:
My supposition is that EMACS was basically Stallman's attempt to bring in all the things he liked about the LISP Machine environment into the Unix world through the back door. The original PDP-10 EMACS really was just a pile of macros which turned TECO into something usable by mere mortals. If all you wanted was an editor that worked the same way as PDP-10 EMACS, it would have been easy to create: several people have (MicroEMACS, etc). It's the fact that GNU EMACS was intended as a haven for MIT LISP hackers adrift in the bold new world of Unix that made it so huge for its time.
Mike