Physical dynamics can be simulated in Rhino using Grasshopper and kangaroo that are free plugins for Rhino.
The thing here is that the industry will adopt the software that companies can afford and that satisfy it’s specific needs, we can’t say if some software it’s better than te other in a single phrase without explaining the use case for each one, NURBS software’s are more commonly use for production and manufacturing pieces where you need more control on dimensions, in that case modo would fart short on tools like surface analysis and unfolding surfaces, 2D parts Drawings and such. which are a essential part of the industrial design modeling.
I also recently notice that Autodesk discontinued the t-spline plugin for rhino, it did the same thing with the amazing VSR Shape modeling Plugin, it bought the company, implemented the tools in Autodesk alias and got rid of the rhino plugin, t-splines it’s now part of Fusion 360 and Alias Design,
Right now i think that your best option it’s Rhino 3D for what you said you need to design, Rhino it’s adopted by many ID firms, and you could complement it with Clayoo (an alternative sub-d modeling plugin for Rhino still with support and constant improvements), with Rhino you can also create drawings of your models for the production point of view. McNeel it’s about to release Rhino 6 with great new features and fixed some geometric controls to better adapt the software to the industry standards, Cycles will be the default render engine of Rhino 6 version and also there’s a new Vray plugin version for Rhino that it’s amazing (vray it’s one of the biggest standards in realistic rendering). plus you have Grasshopper for a very unique innovative way of 3D modeling you couldn’t do in any other place.
I haven’t personally tried Fusion 360, jet, but I think has lot of potencial, it seems very versatile like Rhino but with the experience of Autodesk to create profesional tools and Geometric precision, it seems Autodesk it’s gathering the best of its software’s into one tool, I’ll give it a shot specifically looking for the surface modeling tools, but I’m just scared about this Autodek big monster that could change it’s licencing prices at any time.