But it's not just that.
The image was actually a big turn off even back then, even before source control was even a thing.
Even today, Smalltalk runtimes (e.g. Pharo) are extremely slow compared to other languages, now imagine how slow Smalltalk was forty years ago... I can tell you, it was very, very slow (I used it on NeXT back then). I'm talking "watch the window draw with your naked eye" slow.