I at least partially disagree.
A large number of smaller/basement airbnb units near me are within a very short walk of hotels or hotels offering suites. Generally speaking, the hotels are located closer to favorable amenities.
Hotel and Airbnb prices are getting much closer unless you’re running with a group or family.
But hotels are tightly controlled and regulated and located (with the associated considerations about traffic, noise, etc). Airbnbs can be anywhere, unless regulations extend to them (and even then they often skirt the regs).
Cities have put themselves in this position both because they don't allow enough new housing and because they don't allow enough new hotels and VRBO-like options in the places people want them.