I personally think it would have proceeded at a slower pace, and would have been more expensive.
The tradeoffs may or may not have been worth it, but there seemed to be an obsession with doing it Right rather than doing it cheap and quick. Even today it would be financially beneficial to buy a $70k workstation over a $2k workstation for a developer if there was a significant boost to productivity; each developer costs you well over $70k per year, and you can't double your productivity by hiring twice as many developers.
It takes a lot of attention to detail to make software like the lisp machines. Most free software projects stop at "Good Enough" so we end up with e.g. slime.
The tradeoffs may or may not have been worth it, but there seemed to be an obsession with doing it Right rather than doing it cheap and quick. Even today it would be financially beneficial to buy a $70k workstation over a $2k workstation for a developer if there was a significant boost to productivity; each developer costs you well over $70k per year, and you can't double your productivity by hiring twice as many developers.