That's quite the value judgement. Emacs, when compared with Atom and Sublime Text, has a tremendous learning curve for little payback. It's extensible? So are they, and with programming languages that are useful outside the editor, no less. It's powerful? So are they.
And more, they implement something resembling a common UI to the rest of the applications on your system. Sure, you can emulate that with the proper installation of modes into Emacs, but at that point you're already down the rabbit hole.
Emacs may still be the king of the hill, but it's a really nasty hill to climb. And with Atom and Sublime text sitting just a little below the summit with a nice, paved road to them it's going to take more than just being a bit better than them to justify that final hill climb.
So, no, people aren't afraid. Emacs is just not worth most people's time.
Sincerely, a VIM and emacs user.