No, I agree with all that you just said actually.
There are, however, sides of the coin that are missed. And that's what I meant with the "generalisation" statement. One being, that just testosterone doesn't replace all the hormones that you need. And hcg is not pulsatiled as endogenous LH is every 2h. And that has a purpose Hcg also has other neurobiological functions that you may not want and LH also has it's functions outside of leydig cell stimulation, for instance memory. Just finding the right neurosteroid ballance, for instance, is a pita with hcg. Anyway, it's better to have an automated, balanced system, that works with the bodies homeostasis principle, then forcing it to work in an mechanic analogous way. We tend to simplify biology to much, that's all.
Trt is a last resort for hypogonadal male's and it's certainly not as good as having a normal working hpta system. All I'm sayin ... But cycling is also awful for all the reasons you are saying.