Cedar siding needs replacing after 12 years. Considering thermally modified wood. Anyone made this switch?

Original cedar siding from 2013 is toast on the south and west exposures. Paint peeling, some boards warped, a few spots with rot starting. North side still looks fine weirdly. Contractor is suggesting thermally modified (either Thermory or Abodo) instead of replacing with more cedar. Says it won't need painting. But it's about 30% more expensive upfront. Is this actually worth it? I'm in the mid-Atlantic if that matters, hot summers, cold winters, lots of rain. Specifically want to know: does it really never need finish? How does it look after 5+ years?