I get what you're saying but in general this specific case I think the all-in-ones win for most people.
Ultimately I spent so much of my time worrying about "what crazy expensive equipment should I buy" when I was younger and more into this stuff, and I should have simply just played my shitty instruments and recorded on my shitty equipment. That's on me, but I also find it empowering as an artist that I can clean up my recording in the way that replaces my need for expensive equipment while maintaining (in my humble opinion) a sense of authenticity of my performance. I agree there may be too many knobs, but finding the knobs that I want has never been easier and I would rather live in the now than in the past.
just because you have infinite effects doesn't mean you have to use them all. yypu can set whatever constraints you want
And this is actually a problem. Great art usually comes from constraints, real or artificial. These things are a lot of fun to tinker with (a really fun hobby) but one amp, one guitar, and a small number of effects pedals will probably lead to you actually make more and better stuff.