I've gone through a number of Thunderbolt docks over the last few years. I tend to prefer docks to hubs because you tend to use your laptop at several fixed positions, each of which might have 1 or more monitors, a network cable, accessories (eg keyboard, mouse, camera) and so on. It's easier to just plug in one cable from the dock to the Macbook that'll do everything including power it. A good example of this is the…
I also prefer docks to hubs, for the same reasons you mentioned. There are still some pretty big gaps which need to be addressed before we can use a single cable for everything. First, Mac OS still doesn't support DisplayPort MST. If you have two or more non-Thunderbolt monitors, you'll need to use more than one port. Second, many companies require their employees to use tokens such as Yubikeys, which are USB devices…
Is this still true with TB4? TB4 docks can have 3 downstream Thunderbolt ports and afaik each of them can power a single DisplayPort display without MST being involved, and without the display having to be a 'Thunderbolt' display, which I think just meant that they had a TB3 hub in to allow daisychaining.