I didn't think it was so hard.
Yes, you can (and do) get excellent results from Printer Manages colour. That's not new, but it is better with the newer hardware and drivers. What it doesn't do is provide a workflow which can cater for multiple media, varied images and gamuts, different monitors and viewing conditions and so on. It's a less flexible pipeline, but within its confines it's very good (even excellent).
The ICC workflow gives you a consistent, single workflow that caters for all the regular (and some irregular) variables and provides a means of controlling those variables in a predictable manner. And it can achieve the same results.
So, printer manages is 100% OK if you know what you're doing and you like the results. If you never step outside of the vendor prepared pipeline, it is entirely possible that you will have brilliant results without ever going near an ICC workflow. If you do ever use or need a different pipeline (certain media, particular images, a stylistic preference, repeatability on different hardware, and so on), then an ICC workflow can give you the same brilliant results across those variables which may not fit the vendor's pipeline. That's why, after all, the vendors provide access to that pathway, too.
Neither is right or wrong, per se, but the ICC workflow approach, for most photogs provides a better workflow for the same excellent results.