Just a small correction: it's not "YouTube" ReVenced, it's just ReVenced. ReVenced is a group dedicated to patching apps, but the group itself doesn't provide any patched apps.
The app functionality definitely isn't as good, but the installation process for Vanced was abysmal. NewPipe just installs itself and is good to go. That has a lot of value.
Yeah that's fair, although having an ad-free version of YouTube that was completely synced with your account had lots of advantages compared totthe seperate mirror world you get with newpipe.
Overall I'm glad both of them exist(ed), and they both had different strengths and weaknesses.