I definitely agree that time flexibility is a significant advantage of Academia. Industry, of course, pays better, but it is important to note that pay and advancements depend on your work being noticed, and your efforts may not be acknowledged if you are not good at marketing yourself (i.e. others can sometimes end up taking credit). This is true for academia as well, but presents itself in different ways, and is highly dependent on the individual workplace.

One advantage that may not be considered as often is ease of switching. Academia and Industry both have internal turnover, but I do believe it is generally easier for an industry worker to switch to academia than the other way around. As such, it can be said that industry provides greater choices. On the flip side, of course, Academia provides greater security (tenure), which makes this a classic choice between safety vs. flexibility.

In the end, it’s hard to say one is superior. Individual personalities will prefer what fits them best.