Nothing 'wrong' with paper wheels. They just aren't the 'end-all, be-all' of knife sharpening. They have a place in the selection of tools to be used, and it's a matter of choosing the right tool at the right time for the right reason. For the hobbyist, speed shouldn't be the reason.
If I had a shop set up, and was sharpening several knives every day trying to make money at it, I'd put in paper wheels or a belt system. It's the only way to run a profitable sharpening business. They are good for production work.
But as a hobbyist, although I 'have' dozens of knives I don't need to sharpen them all every week. I have a couple of 'user' knives that I need to maintain; an EDC or two, and several kitchen knives.
So lets say I have 7 knives that get used. With daily 'steeling' and a weekly brush along the Sharpmaker's 'fine' stones, my 5 kitchen knives only get taken to the EdgePro and actually sharpened no more than 2-3 times a year. And 5 knives that don't need re-profiling, on the EdgePro take less than 45 minutes. My two EDCs... EdgePro 3-4 times a year... 10 minutes each... The key to good edges is to maintain them 'between' sharpenings. Do that, and your need to re-sharpen drops considerably.
But do take a look at the average butcher's knife that he sends out for commercial re-sharpening every week... Look at the shape of the blade. Half of it has been ground away by weekly sharpening on a commercial system. I don't want that for my knives. It happens slowly so you almost don't notice it until a quarter of the blade is gone, and by then, it's too late!
Time.... We aren't talking about wasting my life away sharpening my knives. Speed isn't important. Beautiful edges are, and if I can keep them going spending less than a couple of hours A YEAR, I don't feel any need to sacrifice edge for speed. Speed has its place in the commercial shop. Just not in my home hobby shop.
Stitchawl