Are Digital Teleconverters Substitutes for Real Lenses?

Much of the hype surrounding the GFX100RF announcement centered on the three Digital Teleconverter settings, the excitement of having four different lenses on one fixed-lens camera.
The most recent line of X-series cameras (with the 40MP sensors) also touts the digital teleconverter (X-H2, X-T5, X-T50, X100VI).
But are digital teleconverters really substitutes for physical lenses?
It depends on what your goals are. They may be good enough for what you're trying to accomplish (getting cropped JPGs in-camera versus cropping later). But there are three important factors to consider if you want to use them as a substitute for having more lenses.
This video covers:
-What is a digital teleconverter? [1:15]
-First difference: Loss in resolution [2:40]
-Second difference: Depth of Field [4:48]
-Third difference: Perspective distortion [6:24]

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