The technology is largely irrelevant here. If you wrote your app as PWA and then got banned from the Google App store you'd still be losing access to that market and ecosystem, and the mechanism for delivering an app to users. That's the real problem here.
PWAs offer something similar but not really the same, especially if you're charging for the app itself or doing IAPs.
Been arguing this forever. Jobs was actually correct. He just pivoted because he figured out that an App Store could make him billions and control end-to-end the economy and the device, which is always what he's wanted.
Web apps are the way to go. Not mobile apps in a store.
PWAs offer something similar but not really the same, especially if you're charging for the app itself or doing IAPs.