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AFAIK, the only reason not to use Letsencrypt are when you are not able to automate the process to change the certificate.
As the paid certificates are valid for 12 month, you have to change them less often than a letsencrypt certificate.
At work, we pay something like 30-50€ for a certificate for a year. As changing certificates costs, it is more economical to buy a certificate.
But generally, it is best to use letsencrypt when you can automate the process (e.g. with nginx).
As for the question of trust: The process of issuing certificates is done in a way that the certificate authority never has access to your private key. You don't trust the CA with anything (except your payment data maybe).
You're right, Google released their vision in 2023, here is what it says regarding lifespan:
The background is that certificate revocation is a broken system and having short lived certificates makes the problem go away. You don't need to worry about how to tell people that some certificate is bad if it's only valid for a few days.
Ideally, certificates would only be valid for a few days, it should be automated anyway. This has other downsides as I can imagine, like creation of more traffic. My self signed CA for my home LAN has 4 days as standard, and it works perfectly fine.
There are more reasons, as LetsEncrypt might be more restrictive on what you can get (for example, you cant get a certificate for an IP address from them). But, as 99.99% of usecases do not require anything like that, go with letsencrypt until you know of a reason not to.
No proper CA should give out a certificate for an IP, that's a no go by the common rules.
I see why automatically giving them out (like in ACME) would be a bad idea, but other than that, why not? Even https://1.1.1.1 has a DigiCert cert.
LE only certify your domain name, you may want to put more (like company name) to cert and it is where classic certs providers come to help.