Literally every DAW has knobs everywhere: it would be impossible to use sliders everywhere in a DAW's UI, there simply isn't enough room.
And with traditional toolkits (i.e. not HTML) it will even be fast.
I can make a 16x16px knob where you can see almost the entire 320° of the range.
It's also easier to see fractions, such as 1/2, 1/3 or 1/4.
Sliders, especially in 16px possess none of those.
Being able to see the full state of the thing is important. Hiding it behind interactions is just as bad as hiding it behind menus.
Sidenote, you have to do this on native because pointer lock/warp is not universally supported in web browsers.