Emacs has a very long tail indeed of elisp extensions which Neovim has yet to fully catch up with. Neovim is well on its way however, and uses a programming language which many people already know and which is in any case familiar and easy to pick up. Lua has its quirks, elisp is pretty weird even for a Lisp (credit where credit is due, the elisp documentation is fantastic).

I've used Emacs off and on for years, and lately have settled on Neovim. The Spacemacs / Doom style configuration gives Emacs a fairly nice user interface, but I've never managed to hit a sweet spot of running all the fancy stuff I want to run, and not having the editor randomly pause / stutter.

With Neovim I've found that I can load it up and it still starts in under half a second, keeps up with typing/scrolling under all circumstances, and so on. For me that's the right tradeoff, ymmv.