There are some great quality laminate and vinyl flooring on the market today. There have much less repeated patterns -- what really bugs me with lower grade simulated-wood flooring is seeing the same grain or knots repeated often which looks like wallpaper pattern on the floor. Also higher quality flooring has a subtle texture that closely matches the grain pattern and the printing quality of the wood pattern is higher quality or resolution, making it hard to tell it's not real wood. Cheaper ones you could see a grainy or light pixilation in the woodgrain pattern which lacks the depth and is more fake-looking.
High-quality laminate or vinyl are actually better than lower grade engineered wood flooring. Engineered wood flooring will require more maintenance, are more prone to scratching, fading/discolouration, denting and nicks (depending on the species and quality of wood), and are susceptible to water damage. Laminate also has some limitations too, as like wood could be damaged by water & moisture.
Vinyl wood flooring could be laid in wet locations like bathrooms, laundry areas, etc., where engineered wood can't be laid.
With laminate or vinyl it's best to get the thickest flooring you can afford as it will feel more solid like wood and not hollow or tinny like cheap laminate flooring. Some brands have a built-in felt underpad for a better feel and better sound insulation.
Most condos have rules requiring a sound-insulating underpad be laid under the finished flooring to reduce sound transmission between units.
In my opinion, vinyl flooring has come a long way from the cheap sheet or 12x12" tiles from many years ago, they look and feel just like wood, is very durable, requires less maintenance, and could not be damaged by moisture or water. However, the prices could be as much as engineered wood or more, but it's worth it. Because of this more and more commercial spaces (such as restaurants and stores) are now using vinyl.
There is less stigma with vinyl and laminate flooring these days, and for good reasons.