I like SML both out of nostalgia and for its actual merits, but I don't think that's true. SML was far ahead of its time, but it's showing its age now. Its simplicity is also correlated with an absence of handy features (e.g. ad-hoc polymorphism). Many companies invest in OCaml, which is slightly more crufty but with a (much) more healthy ecosystem, yet it hasn't taken over the world.
I do wonder what would have happened if SML had "won". In many ways it was pragmatically engineered in the early 90s, at a time where no other functional language was comparable (except maybe Caml). Its much-vaunted formal specification does leave a few pragmatics-shaped holes, however. For example, SML has no standardised way of splitting programs into multiple files. Each compiler does their own thing (although at least MLton and MLKit both support MLB files).