TLDR: Homebrew (ie modded) is still superior because it can do everything the MIG does and so much more in a safer manner.
I believe most would be asking from a piracy perspective. In that context, the MIG is at best a clumsy and risky tool for it. Not only do you have to find matching files (cfw users only need one) for it, you also run the risk of such mass shared (like in the tens of thousands at any moment) files flagging you. The MIG has no protective measures such as emunand, blanking of prodinfo, dnsmitm, systemwipe/nand backup, etc. An unmodded (ie no CFW) switch is entirely exposed to and at the mercy of ninty. That's one thing I hope potential buyers understand first and foremost........all it does is emulate the functionality of a physical cart and nothing else.
Don't be fooled about the online hypetalk about how it has the "potential" to run CFW (dev of atmosphere has also categorically stated that he WILL NOT support such a thing) and so on in future. It's all just talk and who knows how long that would take even if were possible. Besides, even if it were to happen, there would likey be newer and better stuff by then that are more suited for doing so.
You are buying it to use it here and now, not to wait a decade in the hope that a miracle happens. As such, be aware of the risks and limitations in the present moment.
Just my 2 cents.