Or maybe there are no theoretical limits. In practice, some things are so hard to do that we tend to avoid them. Especially when working with color. It's very difficult to use photoshop to match certain kinds of color renditions that can be achieved with raw processing tools. And it's very difficult to get any digital tools to match the color rendering of certain color films, especially the greens of folliage.
I personally don't want my pictures to look like Velvia, but photogrphers trying to get the same palette with digital tools have a hard time ... especially with leaves and grass.
We more often hear the opposite argument ... that all the stuff we do in photoshop is possible in the darkroom. It is, and there's evidence going back to the mid 19th century. The question again is difficulty. Something that took hours for a studio full of trained brush artists can be done in minutes by anyone with a basic command of photoshop. What was previously a special project can now be part of a normal workflow.
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