The issue is less about putting in the work to create a new language, it's about convincing a significant chunk of an ecosystem to use that new langauge.
> IMO if there was something that was substantially better, we would see projects switching to it in a heartbeat.
Switching costs are non-zero and can block a switch.
ie: Helm charts are built on YAML and gotmpl, even though JSON is also an option. I can make a fairly compelling argument that Helm would be better with JSON and JSonnet, but that ignores a huge amount of investment in existing Helm charts. Whatever benefits are there would be swamped by the cost in terms of additional complexity and potential porting costs.