Many projects grow to the point that the limitations of writing everything in views and stored procedures becomes more painful than writing the CRUD code in Python, Node, Ruby, PHP, or whatever.
For me - using a similar system (Hasura), it's migrating things dependent on views. Feels like this should be a solved problem (database migration issue, not due to Hasura).
At some point CRUD goes from being pure CRUD to mostly CRUD with a few special requirements - e.g. complex RBAC rules, decorating data, API versions, integrating third-party APIs, scaling. They're easy to do in most app frameworks (Laravel, Django, Rails), tricky in something like Postgrest. I haven't use Hasura.
It's not necessarily my preference but the last few years a lot of my work has been in systems that are just a thin api wrapper around postgres.
In practice the biggest issues with it are that the tooling is significantly behind the state of the art of mainstream dev tooling, both for working engineers and ops. It's also not built with this with style of working in mind, so you accumulate a lot of little struggles that are hard on engineering morale and confidence in the deployed system. DBAs have their own practices, but admin is a different discipline from dev and they aren't always directly compatible.
The other problem is that for most modestly sized money-making applications, the database is the single most resource-intensive and expensive necessary part of the stack. Putting a bunch of business logic in there will never help that, and query optimization is a difficult to acquire skill. You pretty much always end up with just a couple of people who can talk the query planner down off a cliff when you get into the shit.
You can get really far with database views (decorating data, especially), functions (all sorts of biz logic) and Postgres roles for RBAC. But I hear you on integrating with 3rd party APIs, etc. Fwiw, there's a number of PostgREST backend client libraries to help with that.
Totally agree that it's possible. But at some level, it may just be easier to use something else. If you're a strong Postgres DBA, I can see how you'd come down on the side of PostgREST. If you're a strong Rails dev, it would make more sense to use that.