That's the thing - it probably would not be.
IMO, the key things that allow Emacs to succeed and last, while being somewhat unique in how it "routinely flouts every single software engineering "best practice"", are not merely conceptual, but cultural or even philosophical. The most fundamental of those, IMO, is that Emacs is ultimately owned by users, who are treated as intelligent partners in the relationship. Everything is designed with extensibility in mind. There's no hard boundary between "core developers", "third-party extension developers" and "end-users" - everyone can be any of them, including all three, at any time.
Maximizing extensibility and interoperability, not demanding "users" to coordinate with "developers" and ask for permission, not chasing user growth (it's all Free Software), expecting that everyone is a responsible adult, encouraging users to make Emacs "their own" - all that leads to an approach that goes the opposite to standard software development practice, because the standard practice is built around entirely opposite assumptions.