No sear=no maillard=waaaaay less flavor. Also braising things usually aren't fully submerged, so they can actually keep developing maillard in the oven. Wine, stock, and beer all also have and impart actual flavor, unlike plain water. Of course you can boil with those things, but then you need a lot more of them, which is more expensive/wasteful. Drastically different results using different ingredients and equipment means not really samey at all imo.