1) You can't search through code quickly enough.
2) You couldn't secure the next round of funding because no one was using Sublime Text, or TextMate, or IntelliJ, or Vim, or Emacs.
3) It didn't have all the fancy features that essentially boil down to developer masterbating.
Remember, all startups are supposed to solve a problem that is worth money. WE SERIOUSLY NEED TO STOP TALKING ABOUT EDITORS PEOPLE! Start ups fail because you are solving a problem that doesn't need to be solved, you can't find product-market fit, you have a shitty UI that no one can figure out, your applications are slow or have crazy down-time, or you fail to reach enough of your market to sustain a functioning business model, etc.
None of the problems are code. Code is a means to an end. I'd say code editors are sad not because they focus on the file instead of the class, module or function. I'd say code editors are sad because they focus on code in general that only exists because solving the real problem another way isn't possible.
Let's focus on solving the right problems. Problems that need to be solved, and not problems that look like other problems.
Can we all agree to stop posting text and code editor reviews and editorials and focus on becoming a more integrated component of a larger business? Just for one week, let's not talk about editors and instead think outside of our developer box.
Sorry for the rant but this sort of discussion is not productive, produces flame wars, pedantic quibbling and we never end up anywhere else than where we started. Code editors are like butt-holes, everyone has one and they all stink for one reason or another. Let's not forget that they exist to put poop in the toilet.
*Edit: Some have made extremely valid points that its not all about business, start-ups or money. I agree. My more broader statement is this: the editor one uses is largely a matter of preference and is not the determining factor of success for any project, professional or otherwise. Being able to solve the task at hand (whatever it may be) is largely a function of the focus, determination, experience, and skill of the person using it. At the end of the day which editor you use shouldn't make a damn bit of a difference of the actual bits you compile.