Well... sure... there are always options.

But there are certain plugins that I want to use that are fundamental for me (LA-2A, Pultec, 1176, IK's Peak-Limiter, Melodyne, SSL Bundle, Phoenix Verb, etc).
In my scenario (which I realize is not common), the iLok ends up being easier to deal with (PITA and all) than many challenge/response schemes.
On the flip-side, Spectrasonics challange/response has been pretty easy to deal with...