Sure. I'm not saying it can't be done... and done well. And I assume that Apple will do it well in the future when they (most probably) will at some point remove the home button.
I'm just pushing back against the idea that a "virtual home button" is inherently "better" than a physical one. They both have tradeoffs.
I'm for the virtual home button because in provides more screen real estate. I'm against it because, like you, I like having an actual button to touch.