I tell my clients that I try to use the appropriate technology for the job, with a judicious mix of analog and digital. I collaborate with a very good firmware guy when there's a lot of coding involved. And such people are indeed (potentially) equally creative as anyone else.
Depending on product volume, a digital-heavy approach can make a lot of sense, particularly if the specification is a moving target.
OTOH, since I left Harman they have more-or-less abandoned analog-domain EQ in one division, simply because there's no one there that knows how to do it quickly and well! They are leaving money on the table like crazy, but since no one is rubbing their nose in it (given no comparison available), and since deadlines are more-or-less met and the Time-To-Market-God is being appeased, who cares? Audio quality is at the mercy of codec quality and in some cases "digital" amplifier quality, but again who's listening? :razz:
I was pleased when a vendor of a switchamp chip used in the JBL On Tour battery-powered portable said that a Far East outfit had attempted to reverse-engineer that last product for which I designed the electronics. They gave up---it was too difficult to figure out. Mind you, this was something with no custom ICs, no scuffed-off part numbers, no epoxied areas, no custom code---although it was a four-layer board, there were no buried vias. It has an abundance of discrete transistors, and only a few ICs, because it was cheaper to do it that way than use expensive audio-quality low voltage opamps, or power-hungry DSP and codecs (although of course great strides are being made in such parts, and the proper design approach might differ if the design were started today, about three years later).
But it did take some serious design work, a lot of simulation on top of knowing what one was doing to begin with, and it was justified by the product volumes >100k. Had the volume been a few thousand pieces a year, things would have evolved differently.