I think there is one major disadvantage to the idea of a phone using an ESIM compared to an actual hardware SIM card, perhaps this is addressed in the standard, but if so it has not been mentioned. One major benefit of using sim cards is that you can have more than one phone and transfer your account to that phone by simply inserting your SIM in to that phone. I think this has always been a major advantage of the GSM system, and this system has moved on to 3G UMTS and now to LTE. With CDMA networks, the account is tied to the serial number of the phone you are using, if you want to switch phones, you must deactivate the current phone and activate the new one. Unless I am missing something, if phones use ESIM exclusively the same thing would happen. I switch between my iphone 8 and iphone SE, there are times when I prefer to have a smaller phone in my pocket. I'm wonering if the ESIM standard allows you to have more than one phone associated with your account. If not, than I would consider ESIM to be a step backward because you can no longer switch phones whenever you want, at least not nearly as easily. This is one reason why the GSM system has always been more flexible, unless I am missing something, it seems like the ESIM idea is much less flexible.
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