Tgate:
You ask a good question about a very touchy detailing product subject.
Those Autopians who have transitioned to true coatings (not the spray-on "imitations") have good reasons for doing so, as mentioned above.
Then there are those of us who are still using "the old school" sealants and waxes. I will say that a vehicle that is freshly waxed in Pinnacle Soveran or Wolfgang Fuzion or even my favorite, less-expensive show car wax Collinite #915 Marque D`Elegance has a very "unique" and deep gloss carnauba-glow look. But they do not have the characteristics of a true coating, and yes, they do indeed require more frequent applications to keep up that look, so the question becomes, WHY do you continue to use it?
My three reasons:
1) As mentioned, THE carnauba look, even if it requires frequent application
2) Easy of application
3) Cost (if you consider #915 "cheap". Soveran and Fusion are not "cheap". Chances are though, that a 8-ounce tin of Soveran will wax MANY vehicles, where a quality, higher-end true coating you MIGHT get two vehicles out of it for the same money spent. I am guessing on this.)
Here`s the analogy:
Those detailers who continue to use sealants and waxes instead of coatings are like the COVID anti-vaxers; you`re are adhering to old methods that are detrimental to the art of detailing. At least, that is the way some ardent coating aficionados make us wax-and-sealant users feel like, AND in some ways, they are partially true.
With the advent of the "imitation" coating ceramic sprays, it may relegate those waxes to the back of detailing supply shelf and become dust collectors, only to be brought out on rare occasions for remembrance sake or use on an older car. But man, what a look!!!