Indeed - but that costs, and there's a trade-off between paying a little extra for the dedicated chip per meter built, vs paying a big chunk up front for bought in expertise and amortising it across however meters they hope to make before the design specs get changed. There's also the tradeoff between having the processor doing "soft" real-time tasks, and the harder task of having it do "hard" real time tasks which it must do if you do the sampling and maths in software. For a company with roots in "mechanical" stuff (such as Farraris disk meters) then they may be "cautious" with software and use a dedicated measurement chip, but if the company has a lot of expertise in software (and in particular, hard real-time systems) then they might be more prone to doing it in software.there is a lot of expertise out there, some ready and waiting to be 'bought in', even if they don't have the requires skills in-house
Don't forget that as well as working as a meter, the new "smart" meters also have to handle encyption and comms - thus loading up the number of variable CPU load tasks it has to do.
There is no easy answer here - and without knowing all the facts, you can't really say whether any manufacturer's approach is "the best".