Why not? URIs are at least able to be tokenized perfectly well by a regular expression. You have to do it right, but there's little guarantee that your non-regexp code will do it right either. I glanced at that regexp and immediately recognized several potential problems with it... will I be able to do that with your non-regexp code?
To concretize the "several potential problems": 1. You generally don't want to parse arbitrary protocols, you should do something like (http|https|file) or whatever set of protocols you are ready to receive. Usually you're better off treating anything else as "not a URL", but consult your local security context for details. 2. Failing that, you want at the very least .⁎? to stop matching at the first :, or if your engine doesn't have that, the protocol ought to be matched with something much tighter like [a-z]+. And I do mean + and not ⁎, because you probably don't mean to support an empty protocol before the colon. (You may mean to permit URLs with no protocol, but that's (.⁎?:)? .) 3. Domains should be parsed more tightly than "not a slash". 4. Also, I have no idea what the @ was doing there. Perhaps it was trying to be $; URL parsing should always end with the "end of string" matcher to avoid problems similar to this. It should also start with the start-of-string matcher, which this one doesn't, for similar reasons. 5. Bonus critique, anything using regular expressions to URL-encode or decode is very suspicious; strongly prefer built-in functions that do this.
I literally saw all this faster than I could type it; does your non-regular-expression based code have this property?
Regular expressions aren't bad. They're hard to write properly, but still probably easier to write properly than anything else. It turns out the underlying problem is fundamentally hard.
(Had to use an alternate asterisk to get the RE expressions correct with HN trying to format it.)