vim: 2YjjpVj:s/foo/bar/pg
Sublime: ^L^L^C↓↓^V↓^Ffoo<Esc>^Dbar
(This assumes there are only 2 instances of "foo", but you'd just have to press ^D a few more times otherwise.)
And sure moving your hand to ↓ takes slightly more time, but it's still no where near as bad as your screed makes out. And if you really care, you can make new shortcuts for movement (by editing a simple JSON file).
Personally, my experience is of using vim for several years, and then becoming approximately as proficient in Sublime in a matter of weeks, and then much more productive in a matter of months. And sure, I wasn't putting that much effort into learning vim, but then, I wasn't putting that much effort into learning Sublime either.