I don't do online unless there's a good reason (ie was waiting for results if covid test - post lockdown - when I didn't feel sick).
In person a good therapist isn't just looking at your fact and shoulders, they're aware of subtle body shifts, or movements. Let's say you're opening up about something and your voice is relatively steady. What is read from that is different to if s/he sees that you're tapping your foot nervously.
So maybe there are some lighter therapies that can be done online with no real impact, but entirely online is a different thing to entirely, or almost entirely, in person.
Re the psychiatrist, some of them have short sessions to check how someone feels on medication and check how things are going. They're not actually doing therapy (done don't ever do therapy). A check-in meeting like that online would be something I could see working quite well.
And re the travel - it's true it adds time. Sometimes it's good to have that buffer between "life" and "therapy". The travel can let what happened in the session settle a bit, rather than getting straight back to work (at the same desk) or getting on with household daily stuff. Obviously, it's not possible for everybody, like the poster above, but if you don't have as exacting time constraints as, say, a single mother working full time, then it's something worth considering.