Electronics is mostly KISS, not only motivated by the financial factor but also reliability, manufacturing, etc.
So far micro controllers are too expensive, too sensitive to unstable power supply, too complex in general (requiring some support components in some cases, have an additional prefabrication step for flashing firmware by the chip vendor, and cost a lot more.
There is no clear advantage to the approach you mentioned.
I ended up repairing it by hard-resetting the NVRAM and forcing the power control computer back to its initial "reset" state.
This was a common enough problem that the manufacturer had a step-by-step guide showing how to fix it on their website.
The moral of the story is that adding complexity, even when that complexity is designed to increase robustness, usually just means that there are more systems that can fail.
The problem is that you can't make every controller with an MCU, and you can't always make a competitive controller with an MCU.
There are already controller ICs that are configurable. In fact, modern controllers are a mix of analog and digital hardware. They do everything an MCU would do in that situation, but faster, less invasively, and with less power. Often, they do more than an MCU because they're not slowed down by an instruction cycle.
See my comment before last for an example of a software-configurable hardware controller.
Condition monitoring is a thing, and it's done with MCUs, DSPs, and FPGAs. But controllers sit on the non-isolated side of the gate driver, where they have basically no physical access to any useful signals. That's why condition monitoring is separate.
The lookup table idea is used for motor control. It's called a firing angle table. But that's a slower application.
Not self-tuning, though, they have to be tuned and all that software written.
Dedicated PMIC chips will be mixed signal, with digital control and analog failsafes.
Supposedly it can also detect shoot-through and modify timing to compensate.
It surprises me that this role hasn't been replaced with a tiny ARM core running some firmware to do the same. The benefit is the core can be self-tuning. It can detect components going out of spec and warn and/or compensate. It can have digital comms with the rest of the system to set all kinds of parameters, allowing a more flexible design and allowing bug fixes in the field. It can have lookup tables to tune efficiency for input/output voltage, load, etc, in a way an analogue design never could.
Considering a tiny microcontroller has a BOM cost of just 4 cents, in the same region as dedicated power supply chips, I don't see why software-controller-switched-mode-supplies aren't common.