Fishing has too much RNG

[Bardo]

BUT!! Some lures will exclude undesirable catches as in my example of sinking minnow / red coral above. Also, usually in my experience, live bait is best for isolating low level fish.

There are at least two locations that I know of where Herring Ball (live bait) can result in 100% red coral, so I don't think that's reason enough to choose lure over bait.

Really, the only reason I've found to use lure over live bait is if the fish only bites on lure, such as Mahi and Yumizuno, or Giantpole and Topwater Frog.
Otherwise it always seems like there's a live bait option that's better than lure.