Live steam in a model steam engine is real.
Electricity in most model electric locomotives makes the word 'locomotive' tautological. Because the source of power is derived from wires or rails that simply channel the electricity from the power station to the motors, not a single one of them can really be called a 'locomotive' - that is, a vehicle that moves under its own power. True, on-board batteries make them locomotives, but the real things never had them, did they? The only successful full-size battery locomotives were those used down mines or around flour mills.
A steam locomotive, OTOH, IS a locomotive.
My 'Earless' takes but ten minutes to fire up from cold, runs for around 40 minutes, as you noted, and then takes maybe five minutes or less to clean up and 'reload' with gas and lube oil and is then ready to start on over. By doing that, I'm emulating what the real engineers had to do to get the whole thing on track, and that gives me great satisfaction. I wouldn't say that I'm obsessed with live steam and I can't deny that they can be a mite pricey by comparison with a mass-produced plastic model. And yes, they need to be tended, a bit like the real thing, but not a lot. Water might need topping up - especially if the loco is a Shay, a well-known water hog, but apart from that, what? With r/c the norm these days, even on many Aster and Accucraft models of Gauge 1 size, with servos powering the throttle, blower and direction of travel, you can sit back or walk around - your choice. I like to watch my 'arm and a leg' toys in action, so I'm a 'walker', and i don't have a single Slo-Mo to my name, nor ever will.
But a prime example of the 'pull' of a steam-powered loco in direct comparison to an almost identical electrically-powered model was brought home to me years ago. A brave soul brought his beautiful Aster/LGB Swiss horticultural college Beyer-Garratt along to a run, at the same time as I was running my Accucraft WHR NG/G16. True, the electric model had all the bells and whistles - literally - but the attention was inevitably drawn inexorably to the steamer, and so were the many onlookers who wanted to see REAL STEAM in operation. An onlooker actually said to me - 'that electric loco is very nice, isn't it? But the other one is real, just a lot smaller than the full-size version.'
So if you are a dyed-in-the-wool 'sparkist', then perhaps there is little or no hope that you might be converted. As you say, a steam loco costs rather a lot more than an electrically-powered model - a sacrifice perhaps made by doing without other things. I neither smoke [cigarettes that is] nor drink alcohol, although I use it to fire up some of my steam locomotives. At, say, ten pounds a day for a pack of cigarettes, giving up the cancer-sticks will give you £3650 per annum.
You can buy a couple of real steam model locomotives for that...and that doesn't include the £25 bottle of whiskey/whisky a week or bottle or two of wine with every evening meal.
Just sayin', is all.