I have a fancy rice cooker with induction heat and I love it. Zojirushi NP-GBC05. Great rice cooker, but not for everyone. I received it as a gift so I didn't have to personally justify the pricetag, but that's definitely a consideration.
I really like rice and usually make it once or twice a week. Previously I would usually make stove top, 15 minute white rice. It usually came out okay, but about a third of the time I would over or undercook it if I was distracted with other cooking. I would also make brown rice but that had a higher failure rate. The rice cooker pretty much simplifies it down to a very basic task with little thought. Pretty much set it and forget it. Not a fan of a unitasker in my kitchen especially one that takes up counter space, but the quality and convenience of it is what allows me to make the exception.
White rice takes about 45 minutes, there is also a quick cook that does it in about 30. Brown rice is over 90 minutes, but comes out perfect.
As for whether you need a fancy rice cooker or even a rice cooker at all, I would ask yourself these questions:
1. How often do you make rice? If it's less than once per week then you do not need a rice cooker or you should got with the cheap $20 cooker.
2. What type of rice are you making? If you just make white rice, you do not need a fancy rice cooker and can get a very simple one. If you are making brown rice, I would suggest getting a rice cooker with a dedicated brown rice setting. IMO, it does make a difference. You can still do it with a regular setting, but you may have to practice it a bit with the ratios of water and rice to get the desired result.
3. Can you measure out water and rice accurately? If so, then you probably don't need induction heat. The best benefit of induction heat is that it can make very small adjustments to heat and compensate for variations, like if there is too much water. With my rice cooker, I could add half a cup too much water and get the same result as if I measured perfectly. Kind of idiot proof and not something that everyone needs.
4. Do you need any timer system? When I was going to work everyday, the timer was really great. I could set my rice before I left for work and program it to be ready at 6. I'd come home at 5:30 and my place would smell amazing. Then I could focus on cooking the rest of dinner. Now that I'm working from home, this doesn't matter as much to me, but it's still nice that I can set it in advance in case I have a call that will take up most of my afternoon. The warming setting is also nice because if I got stuck at work, the rice would still be warm when I got home.
I can't speak to an InstaPot or pressure cooker but would think that most of them could produce good results in a quick time.
Hope this helps!