EDIT: Might also help you tip the balance of the negotiations in your favor ;)
On the other hand, I have a finite amount of kitchen space. So a multi-use device was better than a single-use device.
On a different note: my parents went back to cooking rice on the stovetop for a few months after their electric rice cooker broke. They thought they will just save the money and go back to cooking the way they used to when they were kids. They liked the nostalgia --- but they also like having an extra 30 mins everyday. Stirring the pot over the stovetop and watching the water boil away was not how they wanted to spend their time.
I don't understand. When I cook rice on the stove, I leave it alone. Heat until it simmers (takes only a moment, I start with 190F water), put the lid on and turn the heat down to minimum, set timer for 20-30 minutes and walk away.
We even have a rice cooker, too, but it stays in the pantry because it's less convenient to take it down and set it up than just doing a pot on the stove.
But I got one over the holidays anyway[1] because I wanted something for incubating yogurt that could do more than just be an incubator. I've now made yogurt in it maybe eight times and it's come out perfectly every time. I had lots of failures in the past trying other ways of making yogurt. The steady incubation temperature really seems to make a big difference.
I've also used it for a handful of meals, lots of oatmeal, and it's excellent for hard-boiled eggs that are easy to peel.
But I haven't used it for rice yet. My wife just insists on making it on the stove and the reviews I read indicated the Instant Pot isn't particularly great at making rice.
[1] I got the Pro 10-in-1 6 Qt when Amazon had it on sale for $80. I bribed my wife with a Lodge 6 qt dutch oven. It was a fair trade. :-)
The instant pot is superior -- but it is also very very different. It has a long warm up period, but then it cooks things incredibly quickly. Then, you have a long cool down, depressurization period ("natural release"). In the meantime, you have no visibility on how "done" is the food.
The basic disadvantages are as follows: 1) if you're an intuitive cook, you are screwed. There are no windows. You can't see how the food is doing. There is a long depressurization period. You can't take it out. You have to follow a recipe with instant pots. Everything becomes like baking.
2) if you're a recipe based cook, you are screwed. You basically have to throw out all of your existing recipes. It cooks faster for long recipes, but slower for short recipes. The chamber is also entirely enclosed and nothing boils away. None of them works unless you re-adjust the water levels and cooking time.
3) pressurized cookware has a really bad reputation of explosions. You can also very easily burn yourself either on the exposed metal parts or get impatient and accidentally steam yourself. The steam from the instant pot seems a lot hotter than regular steam.
@js2, try it for rice. Just watch a youtube video on it first because the process is very strange if you're used to cooking rice on the stovetop. The ratio of rice:water has to be very precise. You also have to follow the timer clock for the depressurization part.
I re-learned how to make rice just for the instant pot. I read the supplied instructions and then I watch a youtube video. I actually messed it up the first time. I still occasionally use too much water whenever I get careless.
But, I love mine. The rice do come out good. But obviously, it won't be like the way it comes out from a pot. It doesn't burn or form a crust.
The IP has its uses, and for those things, it's a great tool.
Oh, it's also really great for making flan.
There's a gazillion recipes for it online, so I haven't worried too much about that.