It doesn't have to be a crazy amount of work, see Lisp-in-Lisp in the original SCIP book or a lambda calculus interpreter in Haskell (fits on a screen).
You could spend considerably more time implementing a Lisp dialect's math library than the interpreter. There are a lot of combinations.
Where are the objects, hash tables, exception handling, ...
Of course you can get some of these things from a host language, but someone had to make them.
I guess if you have a lot of fairly small ideas with a lot of novelty, I could see the appeal of a new language to express them in.