Of course you entitled to your opinion but
1. They are completely different masters so no real comparison like this can be made.
2. Logic 7 simply adds ambiance in rear channels, the I/O Atmos mix is a fully discrete multich mix.
Are you sure something isn't amiss in your Atmos configuration? I found the Hans-Martin Buff mix a
fantastic immersive listening experience.
It doesn't sound like you've ever heard proper Logic 7. It does not just add ambience (that would be Auromatic, which just copies and adds reverb). It creates a 360 degree wraparound sound field that can be quite discrete with the right material. I'm using a Lexicon MC-1. It has many adjustable parameters unlike newer Lexicon units.
Peter Gabriel's i/o album is excellent in Atmos, but the different master is why I'm saying the Dark Side mix is better in Logic 7. In stereo, it's flat, but that mix has better bass and kick drum. Once Logic 7 is applied, its fully 360 here and about 85% as discrete as the Atmos mix, IMO, but less overhead (not a huge overhead album anyway).
Admittedly, my Logic 7 setup is probably better than most because I'm using "Scatmos" to expand extra channels and that includes near discrete Front Wides and SS#2 speakers plus experimental floor speakers (front wides out of phase go to 4 floor speakers) plus I have front stage lift into Front Heights and optional copying of side surrounds to Surround Height (allows natural HRTF material to play overhead or lower).
Thus, my Logic 7 uses up to 19 speakers (out of 25 total plus subs).
For example, if I play Tori Amos' Ocean to Ocean album, the chorals in
Addition of Light Divided shoot forward from just above head level and wrap around towards my head in Logic 7 as if it were discrete from the CD. If I play the Atmos streaming version the same bits rotate around me in a giant circle instead. Without Logic 7, it comes out a bit in my home theater, but doesn't wrap around. On my Carver system without Logic 7, it most plays just in front of the speakers, but with the DC-1 on Logic 7, it comes out into the room too, but doesn't wrap as well as my PSB based home theater which comes right to my head.
If I play my binaural Holophonics sound effect album Aldebaran in Logic 7, it sounds similar to the headphone presentation, but larger in size with a giant hair dryer blowing around my head instead of close to it. That's clearly not just some ambience, but outright rear and side imaging.