I view Racket as an academic language used as a vehicle for education and for research. I think Racket does fine in its niche, but Racket has a lot of compelling competitors, especially for researchers and professional software engineers. Those who want a smaller Scheme can choose between plenty of implementations, and those who want a larger language can choose Common Lisp. For those who don't mind syntax different from S-expressions, there's Haskell and OCaml. Those who want access to the Java or .NET ecosystems could use Scala, Clojure, or F#.

There's nothing wrong with an academic/research language like Racket, Oberon, and Standard ML.