Most folks never even use the on board sequencer let alone master it..

Fact is there is no comparison.. The DAW does not allow the same flow.

Sequencing midi is data .. after you record the data you have to assign to sound.. also effects....

When you work with the onboard sequencer.. you are recording and hearing the actual sounds you want.. all edits are being recorded, and your thought process is in tact..

Working on the instrument that will be used for playback is the best solution..

System exclusive is also recorded without surprises...

When we have a good onboard sequencer and know how to use it (few people do), and it becomes second nature... it is the only way to work ...
Sure the DAW is nice overall but it is not better or faster.. maybe easier for someone that never learned to use hardware..

I know I have always had favorite hardware sequencers in the past, and I still do...The one on my keyboard..