I agree that Scheme would be a better choice of an extension language, and honestly I think Stallman would probably agree. It's more that changing the extension language would cause a lot of compatibility problems. I hope the Guile Emacs guys can pull it off.
http://www.gnu.org/software/emacs/manual/html_mono/calc.html
But you would need dynamic scope in Scheme to mix elisp/Guile code in Emacs?
Edit: Ah, this was discussed in your link at the top of this comment thread.
But Stallman argued (in one of the early emacs papers) that dynamic scope is much more convenient for a editor than lexical scoping (as implemented in scheme or Common Lisp)
Dynamic scope makes it easier to change some variable per buffer. With lexical scoping you would need to simulate dynamic scope somehow to be able to change state per buffer.
Emacs-like editors have been implemented in it, and there's no fundamental reason that a true Emacs couldn't be.
Scheme is more of a toy; I'd not prefer it to Common Lisp for a production system, whether that system is an OS or an editing environment.
RMS could in theory have adopted a Scheme, or even a lexicaly scoped version of mainline LISP, but by then he was so experienced with normal, pre-Common Lisp mainline LISP (Maclisp and Lisp Machine Lisp) I'd wonder if it even occurred to him.
http://www.emacswiki.org/emacs-en/GuileEmacs
> As of the end of GoogleSummerOfCode 2014, the Elisp engine of Emacs is fully replaced with that of libguile, and most things Just Work™. Some performance regression of dynamic scoping (lexically scoped code should be fine), and broken corner cases (like crazy Elisp macros that directly output legacy Elisp bytecode) remain.