Clojure's success, I believe, is due to retaining Java's semantics (preserving library compatibility) while overhauling its syntax. Fighting the semantics of your host language/VM just makes work and causes trouble. Therefore, if you want a "Clojure on Python" that preserves the benefits of the original, you need to give it Python semantics, not Java/Clojure's. Hylang is that project - it uses Clojure syntax where sensible, and is fully compatible with Python.
Your problem is with Python, not Hy. Hy inherits the "stupid limitations" of Python, and not even all of those - for example, it does away with the statement/expression distinction, which means multiline lambdas (at last!).
It's just Python with s-expressions. If you don't like it, you either don't like Python or don't like s-expressions.
https://groups.google.com/forum/#!topic/clojure-py-dev/HbeNE...
http://hy.readthedocs.org/en/latest/