IMAP has many more verbs compared to HTTP, so wouldn't it be a better application layer protocol compared to HTTP for a REST API?
I tried to implement an IMAP server a few years ago, but otherwise I don't know much about it. However, I do recall that Mark Crispin admitted that he wasn't a very good API designer, and that much of the complexity of IMAP was due to it being intertwined with the complexity of MIME. But, I can't find the sources for those claims at the moment.