MATT G - Like everything else, different methods of cutting "Stuff" have advantages and disadvantages. I had some gaskets cut via laser 14-15 yrs ago from a paper/rubber based material that could not be stamped. There were four holes that were too close to the ID hole and the material would pull and break the ID hole into the four holes. The laser, since it burned the material had no tool pressure, but I had to get MSDS sheets for the laser shop, they had to run tests to see if the material smoked... Took a while but I finally got some good gaskets after trying to have them punched 4 times.
Water jet is a cold process, no heat effected zone like plasma or acetylene torch, or laser. But the width of cut can and does vary on thick material. Edge condition is great with no burrs. Wire EDM is also a cold process, but if you think water-jet is expensive.....
Laser is good for thin material. Parts typically are ready to use right off the table, no burrs, dross, good edge condition, but slow on thicker materials and some highly reflective material you just can't cut.
Plasma or acetylene are both similar, melt the metal and blow it away. Plasma is more precise, acetylene torch has the ability to go MUCH thicker but takes a wider kerf.
There's also the older processes like shearing, which leaves terrible razor sharp burrs, a rough, not totally square cut edge, can distort the cut piece, but is quick on repetitive cuts on thinner material up to say 1/2" thk. Also abrasive cutting, which also heats the material, is slow, not really precise, but you can eventually get through most anything with enough time & money.
I remember a welding job Wyatt did in my shop once for his trailer to haul KRAIG's old Mercury Capri home. It was a gov't job he had his Buddy acetylene cut from some scrap 1/4" or 3/8" steel into a DOVETAIL joint so he could get MAXIMUM weld metal to hold the parts together. I was totally amazed at the great edge condition & accuracy of the way the joints fit together.