You can put a program with 50 lines and 10 bugs in production. :)
To me "production" also means "runs reliably over long periods of time, does not fall over under load, and has no unexpected panics". Well, and also "makes full use of the available computing resources and prevents lag as much as possible".
"Toy" is basically "I am such a huge fan of LISP, I am convinced that the world absolutely needs one more interpreter!".