There is certainly a place for technology, but as was so well pointed out it can never replace the human element. There are notable individuals that do everything by hand, like Jack Sobon for example. I myself like to put away the power tools some times -but only if I am working for myself. Otherwise it doesn't make the $$$. But there is a balance in efficiency. For some of us, the bottom line is more efficient and gives a better return if we minimize the amount of expensive machinery we use. Some times, the return on investment is just not there to justify the expense. The only way to justify those expenses would be to hire a few more guys and triple your output. Not all of us want to do that.

This isn't just a result of mechanization, it's true even in the old days, that any time you up volume to offset costs and increase your profit, you can turn things out cheaper (because your whole process is going to operate more efficiently) but your are also going to lose something.
They always say, between speed, low cost, and quality you can only ever pick two. Even with mechanization that holds true.

So for me, the question doesn't come down to a philosophical issue of tradition vs. profit. Bottom line is, I am going to do whatever I have to do to make the best money I can. Because at the end of the day, I have to be a businessman and being in business always means you have to make sacrifices somewhere. If I want to do a traditional project, I do it for myself or the rare client who wants it.
So for me when considering machinery, the only question that matters is does it return on its investment? And even if it does, is it going to put me in the poor house until I pay it off?
I'll never be a CNC producer, because it doesn't make the dollars for me at the scale I want to operate. But chances are, I will have a good collection of machines -knowing me it will probably be specialized machines that I built just for the way I do things- before I am done. But I'll also still have my axes, chisels, etc.