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Look at the difficulty that S-Polynomial caused. How can anybody possibly claim the LaTeX allows one to concentrate on the meaning and not the layout? So LaTeX fails by its own criteria.
Secondly: I agree with Jack Perry's quibble over diagram placement. Again, one cannot just concentrate on the substance of one's writing. I used to get a lot of trouble with nested lists.
Thirdly: graduates may love or hate LaTeX (you've guessed, I'm a LaTeX-hater and an Emacs-hater); but clerical and secretarial staff always prefer WYSIWYG.
Fourthly: where I used to work, we used company macros to deliver a company look and feel for all our documents. These macros evolved in time, with the result that old documents could not be reprocessed. So an ASCII text format does not guarantee lifetime reproducibility.