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I would never create a logo using PhotoShop. It simply doesn't have all of the features that are available to me in Illustrator. I probably felt the same way you do at one time; however, after I took an Illustrator class it was painfully obvious that Illustrator is way-way-WAY more advanced in comparison. There are only a subset of more obvious functions in PhotoShop. So, no, you can't do everything in PhotoShop that you can do in Illustrator.
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