Earlier quoted context omitted.
> Why can't be like pydantic Pydantic also has multiple styles, in fact, I think it has more styles than SQLAlchemy. > and use just one style for ORM? To be fair, one of the “styles” you show is not ORM, its the lower-level Core which can be used without the ORM and which the ORM is built on top of. And the two ORM styles include an older one largely for backward compatibility and a more modern one.
Then one really simple question: what to use ?
Instead, use either an ORM, or even better the SQLALchemy core, to manage and abstract out the database; and use something like dataclasses, attrs or Pydantic to define your business logic models. In a network-oriented application, i.e. an API, I would recommend to use a separate tool to model the I/O entities, again unless they correspond very closely to the business ones.