I think you guys have it exactly right and that the PT really isn't a tractor in the conventional sense. I use the term for simplicity. There are absolutely situations where a CUT would be much more useful than my PT. I bought mine when building a new home and used it to put in hundreds of feet of drainage, spread many, many tons of top soil for the lawn, spread many, many tons of stone for the driveway, spread many, many yards of mulch, plant all my trees and shrubs, cut down about an acre of brush, mow 3 acres lawn weekly, put in a small vineyard, move large stones to build a 50 ft retaining wall, several other misc projects, and even snowblow. It paid for itself within the first year, including the attachments.
There were definitely times a CUT with the right attachments would have been a big help, but in general it would have been much slower at lot of these jobs. The PT excels at spreading dirt/stone/mulch in a way that is fast and minimizes the work needed by hand. It is also better at brush cutting and mowing in most scenarios. Those are the things I spent the most time doing. If I lived on a farm, the CUT would be a better choice if I could only pick one... albeit much more expensive than my PT.