Certainly. I wouldn't argue that text editing speed is a relevant bottleneck in software development, actually. To me it's enjoyable and that's a big factor in my productivity, but that's just me.
My point was mainly that the keyboard (efficient use is difficult to learn) vs mouse (arguably easier to learn) is just one example of why the current desktop metaphor won over something I'd say is designed for heavy keyboard use (even if usable without it). The "code the entire environment" thing you mention is another example. Not sure I expressed that point all that well, rereading my comment it almost looks as if I'm trying to start a flame war :D