eSIM gives way more control to the carriers which is not a good thing. I can take out a physical SIM, move it to a different phone, bring it abroad, lend it to someone, etc and the carrier has no say in that.

With an eSIM, once it's provisioned onto a phone it can't be "extracted" and getting a new one involves the carrier, which can say no or make the process difficult/annoying, even if unintentionally.