Maybe the Blub paradox applies to code editors as well,
As long as our hypothetical Blub programmer is looking down the power continuum, he knows he's looking down. Languages less powerful than Blub are obviously less powerful, because they're missing some feature he's used to. But when our hypothetical Blub programmer looks in the other direction, up the power continuum, he doesn't realize he's looking up. What he sees are merely weird languages. He probably considers them about equivalent in power to Blub, but with all this other hairy stuff thrown in as well. Blub is good enough for him, because he thinks in Blub.
Emacs is not just a code editor. It will change the way you approach programming. As long as you don't understand it you might (rightfully, I guess) compare it to just "another text editor, only with these weird commands". Some of the stuff that Emacs can do and the way it integrates into your daily activities, cannot be seen in other text editors, so you're not even expecting such benefits from the other tools or realize that they exist out there, in the wild.