Well whomever is responsible for the content on Wikipedia seems to think so.

"Sanitary Maintenance magazine reports that carpet cleaning is widely misunderstood, and chemical developers have only within recent decades created new carpet-care technologies. Particularly, encapsulation and other green technologies work better, are easier to use, require less training, save more time and money, and lead to less resoiling than prior methods. "

This is pasted directly from the second paragraph on the subject of carpet cleaning on Wikipedia.

I still consider myself pretty new to OP cleaning, I've cleaned around 300 carpets so far, and have never operated a steam cleaning machine. But, my experience with those customers has told me all I need to know of the advantages and disadvantages of steam cleaning compared to encapsulation.

Happy Cleaning

In summary, your own positive experiences has told you there is nothing to be gained by wrestling with all those hoses, wands, etc.