- In the past, it was better at abstraction, but slow and niche and you needed to shell out for hardware.
- In the present it is not better. Common Lisp is about on a par with Python in what it has built in, inferior in its ecosystem, and for some modern stuff (threads, sockets) you will have to go outside the language standard into the wild west of implementation extensions or third party libraries.
Lisp's one big selling point is macros. Macros are magic that lets you reprogram the language. Reprogrammed languages break the ability of a programmer to drop in and read the code. Languages that need reprogramming to get basic shit done are unfinished or academic (Scheme). Languages that can get stuff done, but tempt you to reprogram them are attractive nuisances (Common Lisp, Ruby). In use, they create incompatible tangles that don't mix well with other people's incompatible tangles. I have been bitten by this repeatedly in Ruby. But Ruby is still easier to get work done in than Common Lisp.
Basically it died of being meh with a side of footgun.