History has affected our prejudices. Welding was a cheap way of making a frame but it was also inferior. Brazing with lugs was labor intensive but created a superior product, mostly because of reliability and durability. It also allowed them to make lighter bikes that were still reliable and durable.

But materials and techniques have advanced, and now it's possible to weld quickly and cheaply and produce a joint that is at least as strong and reliable as a brazed lugged joint.

So now the only advantages of lugging on a new frame are aesthetics and the care required to go into it. It means that the builder used an old craft, which we are sentimental about, me included.