Agreed that launch, flight, distance, spin are fairly accurate. Be aware that some simulators have settings that pump up distances or have spin bias.Some of the beginner settings might increase distance 20% and have a draw bias.
After the season plan on working on swing low point and contact intensely when the thaw comes.
I’ve only played on a simulator once and that was like 5+ years ago. I thought it was alright but just a little pricey ($50) for what it was. It seemed fairly accurate but the putting was awkward. I’d rather just hit balls at an indoor range.
One of the biggest differences, if not the biggest difference, is the fact that you are hitting every single shot from a perfect lie with flat feet no matter where your ball actually is on the screen. Rather than needing to adjust to the lie and potentially getting bad contact out of the sand/rough, you generally just need to take a little extra club to account for the "lie penalty" that a lot of simulators will give you. The alignment help, as mentioned above, is a really good point, as well.
As for putting, in my experience, it is pretty hit or miss, depending on the simulator. I've played on some that are pretty solid once you get the hang of it, and I've played on some where we just set it to like 12 foot gimmes because it's impossible to putt.
For the most part, I agree with you. But this summer I was walking 18 holes twice per week and 9 holes three or four times, and at that point, it definitely made a difference when I switched to better, lighter shoes.