OK apologies, and I am glad that is true.
I think a better comparison than what you make with digital plugins versus digital pedals, would be the comparison between a Buchla Music Easel and the Arturia Easel emulation plugin. Can they make ‘similar’ sounds? Perhaps. Kind of… Maybe? But is the experience of playing it the same? NOPE. Not even close. Not even in the same galaxy imho. The same result will not occur from playing an Easel emulation onscreen compared with real analog hardware. The ‘sound’ is only part of the reason why.
So for me first major difference is the experience of playing it: physical hardware, with physical knobs & controls that you touch & which respond, in the analog world. A touchscreen can not be played without looking at it (your finger might not touch the right control, and you receive no physical feedback) whereas I can play a RE201 blind and ride the point of feedback intuitively. When a knob is at max I can feel it, I don’t need to look at an iPad screen to wonder where my finger is relative to the virtual control. The head selector on 201 is also musical - once a delay is rhythmically dialed in by ear, switching the head choices & combinations is a musical experience.
Soundwise, its real tape with all of the characteristics that come with that. I don’t own one of these new machines but own a bunch of other tape echos (RE150, 201x2, 555, Vocu VTE2000, VTE1500) and each of them has their own character & respond uniquely. They need ongoing maintenance but with regards to your comment on price, you can easily pay $1500 for a tired RE201 which needs work, so $2k for a brand new calibrated machine with brand new heads means that price comparison is a better basis for comparison than an iPad app.
I can only speak for my own experience, but the difference when playing is as vast as that Easel comparison. For example I love Valhallas Delay plugin but the experience of using it is very different to using a 201. The 201 has no default setting, no presets, it does not have beat sync. You tune it by ear. When it feedsback & distorts it is not emulated, it is real… And each tape echo I own responds differently. To me these are all hugely positive attributes…
But only you can really answer your question. I grew up on dub reggae & bought my first 201 25+ years ago. And I will never sell it. In my opinion no plugin gets even halfway to emulating the effect of using a hardware tape delay when playing & mixing music… The difference is definitely audible because you play it differently, and it responds differently than how you would play a plugin or emulation app. The best advice I have ever been given is this: “Trust your own ears only”. So if you are interested, go rent a 201 for a weekend and see if you appreciate the differences compared to your iPad app. Maybe the differences I so appreciate don’t matter for what you do and the iPad app or Valhallas plug is all you need. YMMV…
(FWIW I did also buy the Boss ‘Space Echo’ RE20 stomp box when it was released. And I ended up selling it within a few weeks, as its emulation felt so different to a real 201. To me the difference was most apparent at more extreme settings and when approaching the point of self oscillation…I know Sean invested a lot of effort modelling exactly that territory for the Valhalla plugin and it is better… I sold my RE20 pedal to a guitarist who loves it and I replaced it with a Strymon El Capistan which felt closer in terms of sound, but still only as close as a plugin emulation in use)