Typically my main use for text editors is for log analysis (mainly Sublime Text). This usually means I write a lot of regex for searching.
With that in mind, I do see one shortcoming in the choice of Lua as a scripting language. It's not really known for it's text processing abilities. One major shortcoming is that it doesn't have a true regex engine. This is something I use extensively.
For most of my use cases, this would require I hack together a native search in the application, and then pipe the buffer to Lua for post-processing. I'm not sure if search/replace pipelines are going to be easy to code in this manner or efficient enough to be worth it.
I use Sublime Text because it uses Python and makes this relatively easy. Or if I'm searching over thousands of logs to use ripgrep and just pipe in whatever that way since it can search 10GB in a few seconds with moderate sized regex.
Otherwise, I like the approach and the helpful commands for the user! It is definitely nice to be able to stay in a terminal instead of using a GUI to edit.