I didn't have much time in the talk to go into the reason, so here it is:
- You'll need a more complex lexer to parse a shell-like syntax. For example, one common thing you do with lexers is get rid of whitespaces, but shell syntax is whitespace sensitive: "a$x" and "a $x" (double quotes not part of the code) are different things: the first is a single word containing a string concatenation, the second is two separate words.
- If your parser backtracks a lot, lexing can improve performance: you're not going back characters, only tokens (and there are fewer tokens than characters). Elvish's parser doesn't backtrack. (It does use lookahead fairly liberally.)
Having a lexerless parser does mean that you have to constantly deal with whitespaces in every place though, and it can get a bit annoying. But personally I like the conceptual simplicity and not having to deal with silly tokens like LBRACE, LPAREN, PIPE.
I have not used parser generators enough to comment about the benefits of using them compared to writing a parser by hand. The handwritten one works well so far :)