It's still a digital image. I'd rather see a clay model. Something I can touch and feel. I don't see it replacing models anytime soon. However when you realize the investment for making an automobile is in the region of 5-billion dollars, I can't see anyone coming to that decision without seeing the clay.
Models are here forever.
With the help of computers and new technology, it seems there's no end to what designers can conceive and create. But, most will agree there are some things that won't change. We need to use the machine, but it's just a tool. It makes it faster and easier for us. I think the consumer dictates a lot of what designers are now.