I think there are some advantages to powder coating for non-stock restores.
If you have a frame well blasted or acid dipped to be ready for powder.
once that is done it is very hard to get primer and paint into all the nooks and cracks on an assembled frame. The powder gets into them much easier due to the static attraction and being a much thicker coating it seals spaces between parts better to eliminate creeping edge rust.
The finish is very durable.
Down sides are, if you damage it (scrape it down to metal) or have to repair after an accident, your only choices are a spot repair with matching paint (OK on a scratch or chip) or strip the part and start again.
However the same rule applies: The higher the gloss level the more imperfections show.
On the other hand, if you have a bright yellow frame who is going to be looking at tool marks.
