Ask HN: Do you really lose control of your company with a PEO?

There is a general consensus that you lose control of your company if you use a PEO to handle your HR, benefits, etc. Do you find this to be the case? Do you have issues when onboarding/offboarding employees? Creating your culture, time off policy, etc? Do you feel the PEO has any control over how you decide to operate your business? Would love to hear the negatives or positives you've found when using a PEO for you business. Thanks!