It more-or-less boils down to: 1. class-based components force your lifecycle logic to live in disparate locations. 2. Class-based hooks are obtuse with hidden gotchas whereas pure functions tell you exactly what they're doing. 3. A whole class of unergenomic solutions disappears when you use hooks.
Hooks have their share of weird issues; they explode if they're called in a different order/number from how they were called the first time the component rendered (making them not at all pure functions), and it's super easy to screw up the dependency array to useMemo/useCallback (so either your hook is useless and re-installs the event handler on every render, or you get stupid "the callback had a stale copy of the state" bugs not possible with class-components).
I've also seen my fair share of situations where what would have been a this.setState with a callback becomes a tangled mess of useStates and useEffects, or someone bends over backwards to try and avoid re-installing an event handler every time one of the props or state variables it uses changes.
I definitely get that there are some more complex cases where you have to jump through a couple of useRef hoops to do what you need. On balance though, I think the way the behaviour becomes declarative is worth the trade off.
And you already have to wonder if a function has state if you didn't write it. If you did, you should know.
You have more control too. Look at the parameters to useState to see what I mean.
The class API lifecycle methods are kind of a mess, and useEffect() seems like a more convenient abstraction. But I could imagine replacing the lifecycle methods with hooks that are added at object construction and get similar benefits. I wonder if the problem is not so much classes, but just the API that happened to evolve.
* Removed "pure" to make my main point clear.
But my point was functions are simpler in all those scenarios, pure or not. Edited my comment to reflect that.
Sure, if you define a function called useWhatever that doesn't actually call any hooks, that might be a pure function. But the restrictions described in https://reactjs.org/docs/hooks-rules.html are not restrictions that pure functions have.