I’ve been doing this for a long time and have never once “shared code between front end and back end” but sharing types between languages is the sweet spot.
Just define your API interface as a collection of types that pull from your API route function definitions. Have the API functions pull types from your model layer. Transform those types into their post-JSON deserialization form and now you're trickling up schema from the database right into the client. No client to compile. No watcher to run. It's always in sync and fast to evaluate.
Plus, openapi can be useful for other things as well: generating api documentation for example, mock servers or clients in multiple programming languages.
I'm not disagreeing with you, what is best always depends on context and also on the professional judgement of the one who is making the trade-offs. A certain perspective or even taste always slips into these judgement calls as well, which isn't invalid.
The maintenance burden shifts from hand syncing types, to setting up and maintaining the often quite complex codegen steps. Once you have it configured and working smoothly, it is a nice system and often worth it in my experience.
The biggest benefit is not the productivity increase when creating new types, but the overall reliability and ease of changing stuff around that already exists.