I work as a painter.
Some valid points, Paint is not as durable as powder coating in some cases, depends on the paint type and finish used. I mostly paint rally cars using 2k paint and a very hard wearing good quality lacquer and they seam to fair very well for stone chip resistance. A good durable paint finish is 90% prep, but as highlighted a painted finish is much easier to "spot repair".
As for nitromors, if you nitromors strip a frame there is no need to then have it blasted to key the surface, i would personally use a surface prep like red scotchbrite or similar just to key the surface without causing damage. And obviously only applies to frames that have been painted, nitromors won't touch powder coating.
the problem in my eyes is cost: I have painted my own hardtails and they are not easy to paint, you certainly won't get as good a finish as a blast and powder coat for £50