Nope. My first recordings were on a Tascam Portastudio. It was a pain in the ass and I wished I could have recorded in perfect quality at the time, especially after bouncing multiple times.
But a plugin gives control over the character and removes the hassle. I can have just a little bit of tape mojo if I want, without it stacking up every time I add another part. I can have the saturation without any hiss, or I can automate the hiss with an envelope follower. I can slam the saturation and compression in parallel with the clean signal, or only on the side while the mid stays clean. I can apply it to one synth voice while the rest are clean. I can use a really dirty, bandpassed, mono tape sound for the intro and then widen everything out into the main part of the song.
It's like how distortion in an amp was a bad thing until guitarists turned it into a creative tool.