Point to point wiring.

'point to point wiring' is code for 'it was made in the room over the garage by dyi enthusiasts'.

Another downfall is a circuit board can be very susceptible to airborne and mechanical vibrations. Some manufacturers implement "floating" the boards with small springs or rubber devices on the mounts to the chassis to reduce these effects.

Circuit boards (if intelegently designed) enable optimum placement of components with minimal wire runs between them. And, it avoids the need for wire "dressing", which always was something of an art. Depending on how many of the circuits you will manufacture, circuit boards may or may not be less expensive to produce. The use of "point-to-point" wiring may reflect the fact that few of the units are produced, and the supposed benefits cited as a cover-up.

PCB's are quick and easy. Design a board, have it made for you, pay minimum wage employees to stuff the boards, install them into the chassis with plug in connectors, test it, put it in a shipping box. Sell a $1K mod six months later, changing out a handful of caps and resisitors that should have been used in the first place.

Yeah, PCB's have brought us a long way.

It's a throwback, and like a number of other things in audio (tubes and vinyl) it gets the juices of old audiophiles going. Whether any of it is an improvement is all in the mind. You know what? Chicken tasted a lot better when I was young.