Yes, this is exactly the realization that most people don’t reach, and it sounds like you just hit it:
(1) If you need the reports, you can just print / save those off and refer to them as needed (and in fact, you really don’t want to update a report 6 years later - you want it frozen).
(2) If you need the transactions, even in the facehuggeryiest software you can typically still get a CSV (or as you say, PDF) out. And it’s as easy to search for “ConsultingLLC” in Numbers or Excel or your PDF reader of choice as it is in Quicken (I in fact will claim it’s easier.)
I think one other psychological thing that keeps people locked into one tool is they like seeing a chart that goes back 10, 15, 20 years or whatever – but if you’ve run the reports, it’s easy enough to roll those up in a spreadsheet and do them there, too.