Obviously, depending on where you are and your needs, you may prefer dual physical SIM. That's what Apple should've done ideally for the Asian market, but Apple only cares about the Chinese/HK market, and such only the version there has dual physical SIM, while the rest of Asian market has physical+eSIM. Since that's the case, might as well go all the way with eSIM only to force the local carriers to support eSIM.This is a really interesting opinion. I'm 100% on the other side. After using dual eSIM for 2 years I've gone back to 2 physical SIMS and it's (for me) so much better. The inconvenience of having my phone with eSIM stolen while out of the US (I have a US line and a Hong Kong line) was insane. I had to literally get a physical SIM from the US mailed to me to convert to an eSIM, and locally there was no way to provision without going to the carrier store and waiting for customer service. In both cases a physical SIM was available immediately without CS.
I'm sure I'm an edge case, but the need to contact the carriers is a huge downside for me. Like a lot of digital things, what should be super easy (log into website, scan qr on new phone, go) is actually worse and trickier than just pulling the SIM, slotting it into the new phone, and going. Got a new iPhone (here in HK, where they still have 2 physical sim slots) and was up and running with both lines on the new phone in ~2 minutes. That's fast.
As for losing the phone, either way has its own risks. With physical SIM, the thief can simply take it out, put it in another phone, and misuse the number (eg for OTPs, etc). With eSIM, that is prevented. The trade off is in getting a replacement, but then it's carrier-dependent. Some carriers simply allow eSIM re-activation via their own app and resending an email with the QR code.