Nah it's not so geeky. But the thing about it is there are not too many tools available for system configuration so you have to learn editing the configuration files manually. That's the beauty of the distro. You can learn a lot by it. And it's system requirements is low too. Just go to it's site and see the specifications of the server it is running on.
If you don't want to do package management on your own then yeah it's gentoo. If you'd like to learn a lot then LFS or DIY is great but it's not maintainable in the long term unless you can gather a big team to help you out and then create a nice community around your distro.
Another project to look at is DFS - Debian from Scratch.
If it werent for linux, then i would have voted for OpenVMS
I have an openvms account and damn, i cant even get to display a list of files in my home directory.
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