Yes, if you're just adding effects for recording a guitar or something, it can easily be done in a DAW with current software.
What can't be done with current software is a permanent DSP/EQ on your interface outputs, which applies to all sounds from all sources, including low latency ASIO. I
wrote about it before. Whoever implements that at a reasonable price gets my money.
And the capability to load VSTs through the driver sounds nice, but now I think having DSP on the device itself is better. It's more foolproof, more portable and if the manufacturer provides and open API, it could also run 3rd party effects.