i guess that a complex SMPS is less expensive than 10lbs of iron and 5lbs of copper wire
it sure isn't nearly as reliable. i see a LOT more SMPS supplies dying for various reasons (bad caps, shorted switching transistors and high side bridges, shorted high speed diodes, shorted TVS diodes, etc...) than i do transformers, bridges and big caps (occasionally i see an open primary from the thermal fuse opening up, or maybe a shorted bridge, and very rarely a shorted turn in the transformer).
btw, a word of warning... if a switching supply isn't working at all (not even ticking or chirping), before removing the power supply, check the DC voltage across the primary side caps. there can be anywhere from 150-300V or more across those caps if the switcher isn't running, and they can hold that charge for days or weeks. those caps discharging through your fingertips can cause severe, deep pinpoint burns. if you aren't in the habit of using the one hand rule (only use one hand in contact with anything in the equipment being repaired) that charge CAN KILL YOU.
if the caps are charged, use a 10k-33k resistor and clip leads to safely discharge the caps, and keep the discharger connected if you keep the board on the shelf for any length of time (like a day or more while waiting for parts), or you may find out the hard way what Dielectric Absorption is (electrolytics can, after having a charge on them, "recharge" themselves)