This is how I see it:
With Cpanel, you are on your own. Most of the people don't know much about servers and when you need something, you actually need server admin. This is why managed hostings are more expensive since you basically have an adequate person doing things for you on their end. If something goes wrong, it is not your responsibility. I often have something new to do, like installing scripts checking some bugs, etc. I just send them an email and get professional help. Huge time saver.
I had CP on older and cheaper hosting accounts and didn’t see that as an advantage. In this moment, I have few local sites, they also have som kind of panel (never bothered to see which one, maybe it is cpanel) and I hate it because I need to spend time instead of just saying to someone to do it. My previous hosting company also didn't have Cpanel. I see it as a kind of bonus.
Wit the current company, being managed saved me time and nerves.
There are various scenarios. For example, I send them tutorial and they read it when doing something for me. Last time I needed new email created for 40 domains. I just say: create me email address webmaster@ all domains hosted there with some password. That’s it.
I am now looking through my support tickets and checking my requests. It simply saved me time to: block Ip addresses, change cron settings, restore accidentally deleted dir, block ip ranges, install https certificate (just try to do this on your own for the first time) instal third party scripts, disable/enable server options, setting redirects, and even diagnose problem with wp plugin and fix it for me. Last time they cleaned malware injection in some of my scripts. I am not capable of doing things like this and I feel very comfortable knowing that someone is really there not asking for the extra buck for additional work.
At my current company that I am not planning to change, they even gave me bonuses. When my sites were overloaded, they simply upgrade me with memory and didn’t charge a thing. At some point when I’ve asked about the storage price, people just gave few terabytes of space since I am a loyal customer. I think I never pasted affiliate link here or gave kudos to some company but this is the opportunity to do so.
Check them out here. I am giving best recommendation for their service and attitude for clients. Believe me, I’ve experienced various companies and services until now.