I certainly don't agree with Joel on everything, but I think he makes excellent points in the essay I linked above. I think every programmer maintaining a project hits a point where they want to rewrite everything. The code is full of hacks, the API is crufty, the requirements have evolved, etc. But that doesn't mean that such a rewrite is a good idea. And I bet we could all agree that a rewrite is not implicitly a good idea. All other things being equal old, tested code is better than new, untested code.
Plus, the CJK fixes in particular he's discussed literally now years ago were supposed to involve Core Text, which I believe was new to Leopard, which was then in turn a fairly new thing. Perhaps in addition to his shortsightedness/disinterest/whatever it may have been that he didn't consider that cjk would be an issue, new APIs and more made the idea of a rewrite more appealing.
and while that sounds like an incremental feature (and is), it looks like it's a nontrivial change among others to be done to textmate that 2.0 is aiming for.
if i had to wait this long to get proper cjk support (hopefully!), that alone to me justifies the long wait, and i wouldn't consider it to be a huge strategic error. that is, if this and more all happens with the launch of 2.0.