I like the low entry price of plugins as they allow more end users to experience the joys of making music. But latency has always been part of the equation with applications that share host computer CPU processing time.
I've been using DAW plugin amps since the first version of Amp Farm. As cool as the concept was to be able to open a session in Pro Tools and have everything recalled exactly as you left it, the horsepower to do low(-ish) latency real-time processing was only possible with dedicated processors, namely VERY expensive TDM cards sporting multiple processors. The studio where I worked paid around (I vaguely recall) $10,000 for each TDM card at least 15 years ago. I'm pretty sure one instance of Amp Farm took an entire TDM processor to run one amp sim with no dynamics processing or time-based effects at all.
There's nothing wrong with using host-based plugins but dedicated hardware is still the way to go for the best performance. Plus, while the cost of the hardware (computer, audio interface) to run a plugin isn't a hidden cost, I think that it's easy for many to not include that in the equation even though the reality is that it is part of the total cost.
The cost of an AXE FX 2XL+ buys you 2 SHARC processors that runs an astounding library of top quality amps, dynamics processors and effects all in real-time with imperceptible latency. Add the excellent audio interface with multiple analog and multiple digital I/O, front panel hardware controls, headphone output, MIDI interface, USB computer interface, dedicated FASLINK foot controller interface, expression pedal inputs, and Axe-Edit software to edit, store, recall and share patches.
PLUS the owner and brains behind Fractal is here on the forums, listens to feedback, and is constantly improving and adding to existing products.
Sometimes you get what you pay for, and sometimes, as is the case with Fractal products, you get much more.