You are partly wrong. Graphical models are orthogonal to DL. We are starting to learn how to mix both. E.g HMM + DL = Deep Markov model. It has the advantages

You are partly wrong. Graphical models are orthogonal to DL. We are starting to learn how to mix both. E.g HMM + DL = Deep Markov model. It has the advantages of both, structure and large numbers of parameters. Some SOTA NLP models follow this approach.