Another top-level comment has covered this at least with regards to networking, hasn't discussed the storage side as much:
https://news.ycombinator.com/item?id=39355644
In storage, however, the industry has agreed on NVMe. This is a full standard for control and data plane. All storage products on the market, including DPUs and SmartNICs, just present NVMe devices. So there's no case to be made for vDPA at all. It just isn't necessary.
As for vhost-user, it's perfect for VM use cases, but with containers or applications in the host, it's not easy to use. Whereas, a vDPA device (HW or SW) can easily be attached to the host kernel (using the virtio-vdpa bus) and be managed with the standard virtio-blk driver.