I’m going to speculate a little here with what I know about consumer products, so please correct me if I’m wrong. I don’t know a lot about the analog HA landscape. But on general principles:
Without using an ASIC (custom chip), the analog circuitry will be relatively large and power hungry. Maybe there are analog hearing aid chips available, but if not, I don’t think there’d be enough of a market to justify the cost in making a new one.
In other words, to make a comparable analog HA, with 10-20 channels of EQ, it would be difficult and expensive without custom chips.
And you would just have fixed EQ, maybe some sound level compression (nothing fancy like frequency compression). MAYBE some adaptive EQ based on ambient noise/sounds.
Can anyone list feature sets of late-model analog HA’s?