It's a tough debate.
I started with dry rock and it's been a relentless battle with nuisance algae - brought me to breaking point on a few occasions (I have an 8ft tank full of rock). A year later, it's about 1/3rd covered in coralline and if I let it 2/3rds covered in GHA (near zero phosphate/nitrate). I spend 5 hours a week toothbrushing the GHA back, week after week, month after month - tried everything, nothing works (over the long term) - chaeto fuges running Kessil H380's, GFO, blackouts, moderate use of hydrogen peroxide, even baking rock in hot sun - nukes the coralline too and guess which algae grows back first when returned to the tank?
About 6 months ago I decide to quarantine some live rock to introduce more Coralline. Magnificent pieces 'full of life', different algaes, sponges, macro algae, simply magnificent to look at. They did 45 days fallow, constantly checking for pests, went into the tank. To this day not a spec of nuisance algae grows on them. I declared never to use dry rock again.
THEN, Zoa's started disappearing, mushrooms started disappearing, I eventually caught a crab (how he got through my pedantic quarantine period is beyond me) in the night, chopping and slurping down my torch coral like a bowl of spaghetti. Was a pain to catch and remove. All good for a while. Then again, prized 'designer Zoa' frags at $25 a polyp disappearing - again found another crab. Very painful to catch and remove. Now many months later no loss of corals, but still many hours of GHA removal on the dry rock as I patiently wait for thick coralline \ more corals to cover all rocks. I've decided now to completely rebuild my tank to minimise rock to light surface area or hire staff to fight the GFA back.
The decision becomes Nuisance creatures vs Nuisance algae? I still think I'd pick live rock if I had to start again (just for the light exposed top layer), do my best to Quaranteen out the pests, then offer up sacrifice corals to 'trap' pest crabs in the early months.