Still hearing MSYS2 is better than WSL for Windows dev, what's your experience?

Obviously there's going to be some contextual differences here (for example, maybe a Ruby on Rails dev - or any pure web platform dev - might find WSL[2 especially] experience more cohesive with a pure vertical Linux), but I'm hearing that MSYS2 is still the best •nix-like dev environment for Windows.

I guess with MinGW you do get the true Windows native development experience and excellent speeds, but I'm kinda curious: what are your experiences?

When does MSYS2 make sense and where does it fall short?

What terminals are best (mintty vs conemu, etc.) and what overall dev environment makes normal Linux / *nix / macOS users most comfortable with the least speed compromises?