Punch cards were bulky and contained too little information for such a bulky item. They required a keypunch machine to punch the card, and a verifier to verify that the code is correct. Making a single mistake in the code resulted in having to rewrite the whole code. So, the trend shifted to programming languages. They are easier to create code with, and the code can be executed quickly.
Every programming language has its strengths and limitations. Some may be good for creating websites, some for data analysis, and others for machine learning. As people need to write code for different jobs, the varieties of programming languages allow them to choose one suited for their purpose.
Python is very simple compared to other languages. This bites back because a person with Python as his/her starter language will find it more difficult to get into other languages. Another issue is that Python is dynamically typed, so while it is good for small OOP programs, it becomes complicated to use for large OOP projects. If I had to change Python, I would change it to static typing just for that.
To create our own programming language, we need a compiler to translate the code, a standard library with a basic set of functions it can execute, and a code editor with a proper environment. We also have to define the basic structure of the language, its syntax, what platforms it is operable on, and what we want the language to specialize in.