There’s one application in which vinyl is used to assist not replace painted graphics; that is as a stencil mask for custom painted graphics. Custom auto or chopper artists use a combination of pinstriping and airbrushing to decorate vehicles. Precise placement of airbrush applied paint requires a stencil. Back in the dark ages, when I was in college earning my BFA, we used Amberlith or Rubylith stencil film, cut with an Xacto knife. These days, you can do the same thing with a vinyl cutter and some paint mask film.
In fact, Orange County Choppers uses a Vinyl EXPRESS vinyl cutter for cutting stencils for some of their custom choppers. It makes an occasional cameo appearance in their graphics department.