I don't know if I'd necessarily call it hipster - its kind of like shooting film as opposed to digital. Film just naturally looks good, in the same way that analog naturally sounds good. Also, analog gear allows you to play an instrument, instead of just using a piece of software. There's something to be said for the level of tactile control and physical feedback you get from analog gear as opposed to digital.
Also, you wouldn't be able to hear a difference in the digital and vinyl versions because all the recording is being done digitally. A lossless version of a modern recording is going to sound just as good as the vinyl will, because both the digital and physical copies are being created from the same source files using the same sample rate.