Not at all. One very popular use case for virtual devices is to trigger Alexa routines (not SmartThings routines) and the ones created through the advanced web app can’t do that except for the virtual lock, which is not what most people are looking for.
VEdge Creator offers many different device types with many different features.
Those who just need a simple virtual device may well choose to use the official feature. Choice is good. 
FAQ: Creating Virtual Devices with the new architecture (Without the IDE) (2023)