One of the design goals in Ceylon was to treat all these things uniformly, so that a class is, as much as possible, just like any other function.
However, there is a big and surprisingly important difference between a class and a function that returns a record: with a class you get open recursion between members of the class. You don't get that with a function that assigns members to a record type - or, at least, if you do build the machinery you need to get that, you have essentially reinvented classes with a worse syntax.
Open recursion seems like a small thing. But in fact, in practice, if you try taking it away from me, I will have to do some convoluted and nasty things to emulate it. Sure, there are plenty of simple classes where you can do without it, but there are surprisingly many classes where it's necessary, or at least very useful.