It's totally comparable as far as a user is concerned. If I can get better results with software then I'm not going to use hardware - I'm not going to give them a pass just because they have limitations the others don't. I don't award handicap points when shooting out gear.
You might get better amp modeling results with one model - say the TSE X50 v2 vs the Helix "Panama" model.
Are you going to get better results if you want to use a Klon Centaur or fuzz pedal? Nope.
Are you going to get better results if you want a Shimmer/Particle Verb for an ambient section on a track? Nope.
Are you going to get better results having a compact rig that's footswitchable? Nope.
Are you going to have better results re-configuring your signal chain? Nope.
Are you going to have better results getting a Fender clean sound with tremolo?
Or a Vox sound for a chimey edge-of-breakup part?
Or a JC120 for crystalline clean sounds?
Or any of a buttload of other use cases? Nope.
If you only need a specialized tool, you should always get that. If you need more, a quality convergence device is almost always a better value.
That's why people rarely buy aftermarket GPS systems, MP3 players, camcorders or consumer-grade digital cameras. Your phone can do that all now.