It is, kind of. The Canon Cat is a good text editor. That's about all it does.

When Raskin was active, there was a whole industry selling "word processors", special purpose computers that just did text processing. Wang and IBM were the biggest makers. The IBM PC was descended from the IBM Displaywriter and used the same monitor. So at the time, word processing looked like the core desktop computer function.

So Raskin perfected the word processor interface. What he didn't get was that computing was not going to stop at word processors.