On that note, I've been wondering about the recent hype about "air fryers", which - best I can tell, after looking into it repeatedly - are basically countertop, underpowered version of fan ovens that have been, in my life, a standard appliance in every kitchen I've ever seen. But maybe it's a sign of worsening economical prospects of the generation - people no longer own, only rent, increasingly worse quality apartments, so a basic kitchen with a fridge, a stove, an oven and maybe dishwasher and microwave, are things people no longer can rely on, or expect to have?
The one advantage that air fryers have over standard convection ovens (IMHO) is that you can make smaller portions, and because these products are designed to cook small portions they can direct a ton of heat at the food, cooking it very quickly. Prepackaged meals' instructions usually mirror my experience as well, saying that cooking in an air fryer will require less cook time compared to an oven, and a drastically lower temperature as the heating element is literally right next to the food as the air circulates the heat.
Otherwise, if you already have a convection oven and don't mind waiting a bit longer, I don't see a good reason for purchasing an air fryer (other than the aforementioned advantage).
I used to dismiss air fryers as just a crappy benchtop oven, but Minute Food did a cool video explaining why that's an overly reductive view and they're actually kind cool https://www.youtube.com/watch?v=AASP4P5vRAA
It really does work better than my conventional oven.
Not so much underpowered, but rather faster heat, higher fan speed and smaller (so proportionally higher powered but only useful for smaller portions). That makes it more convenient for many people than a regular convection oven. Not to say they are not over hyped, but they have their niche.
Maybe having modular devices that can do things as necessary and then be stowed are more practical than having large appliances bolted into counters taking space? I think that it is impractical for everyone in the world to have as much space as we currently think we need. We can get along just fine with smaller living spaces -- it is not a sign of poverty to be efficient.
I have an older "convection" wall oven which I think probably has something like a $10 fan added to a regular oven BOM. From what I can tell if you put the item to be cooked on a cooling rack set in a baking tray, you have something close enough to an air fryer to be no different. Of course, people in small apartments have had toaster ovens forever so maybe an air fryer is just the modern replacement for that.
My stove came with "convection bake" and "convection roast" settings on the oven. Then some time after purchase I was offered to download an "air fryer" mode, but I would have to enable the wifi connection on my stove and use a smartphone app, which I do not want to do. Am I really missing much? Can a full-size home oven also be an effective air-fryer?
My guess is that it's some useless mode like microwave ovens have a zillion of but which are perfectly straightforward to simulate with the right temp/power and time settings.
I own a full modern kitchen (your mid-range appliances; full induction stove and a modern convection oven that even steams). My no-name air fryer makes crunchier fries than my convection oven.