Yes, with some qualifications. Below, with some edits, is what I originally wrote for the comment you replied to, before scratching it for being too wordy.
Some personally compelling reasons for myself as a guitarist:
1) With physical gear, I own the means of sound production. Less so for pedals that integrate closed computing elements into their circuits though, and even less if it has IOT crap (why??). Analog devices are generally best at this aspect.
2) Along those lines, longevity and repairability. Again this applies most strongly to analog pedals. I can keep using a well-designed pedal for decades, and keep it going with occasional repairs and maintenance. Digital modelers (including digital pedals to an extent), not so much, for a number of reasons.
3) In general, physical signal chain elements, particularly analog ones, strike me as more malleable as an end-user. I can do tweak the gain of individual stages, rework the inter-stage EQ and attenuation, etc. with a physical tube amp, and do similar things with analog pedals. Perhaps to a lesser extent with digital pedals too. I'm not aware of a modeling system with comparable flexibility, though I'd be interested in being proven wrong.
4) Some analog stuff, to my limited knowledge, is still difficult to model.