But exactly the same is true for a binary signal, for example on SPI bus. "100% analog" means nothing and is useless distinction if you call every electronic signal "100% analog".
No, it is not the same. If you put digital (binary) buffer between SPI transmitter and SPI receiver it doesn't affect communication. It will still works. Because SPI communication uses digital (binary) signal.
But if you put the buffer which remove analog components from ethernet signal, it leads to a break of ethernet link, because ethernet PHY uses analog signal for communication with remote end-point.
Gigabit Ethenet PHY output is actually analog RF transceiver which has gain control, echo cancelation and analog signal substraction. It uses digital signal processing for analog signal, but this doesn't means that it uses digital signal for the link. Such signal cannot be digital.
Talking that ethernet pair has digital signal is the same as talking that mobile phone uses digital electromagnetic waves for communication. No, this is absurd. It uses classic analog radio communication for transfer digital data over electromagnetic waves and electromagnetic waves are not digital and not discrete, they are analog and continuous. It uses digitals signal processing and ADC/DAC for converting between digital and analog signal, but signal received on antenna and sent by antenna is analog, not digital.
The same with gigabit ethernet PHY, it uses digital processing for analog signal and ADC/DAC for converting digital domain signal into analog one and back, but signal on ethernet pairs is analog.
Just think, gigabit ethenet signal is a multi-level analog signal which has random and varying amplitude and added high power interference of known signal. If you put it on a digital logic element input which accept just 0 or 1 discrete value it just can see self transmitting signal and will be unable to listen for remote signal.
There is no "multi-level logic elements" inside gigabit PHY, it uses classic digitial circuit built with binary logic elements and ADC/DAC for converting between analog and digital domain. And pair between two PHY is analog domain....
You can choose to call Ethernet analog signalling but others will disagree, because others consider analog something which does not have a concept of numbers at all
There is no numbers on signal between two gigabit PHY, there is classic analog and continuous waves with continuous frequency spectrum on the pair between PHY.
And there is no way to process such analog signal with digital circuit without ADC/DAC converters to convert digital domain into analog and back. Because you cannot process analog signal with digital circuit, it needs proper conversion from analog domain to digital and from digital to analog.
Digital circuit consists of binary logic elements which can work with digital signal represented with binary level 1 and 0. And there is no way to process analog signal which consists of random and varying amplitude with digital circuit.