For me, it’s similar to the question of do you want to work for others, or do you want to work for yourself? There are different levels of risk and rewards for both.
I like to have it both ways. I enjoy having a steady 40-hour-a-week paycheck but I also like to do freelancing and consulting because it gives me creative freedom and also builds professional opportunities.
You can see the parallels with publications. I like contributing work to others (like The Synapse!) to get a consistent stream of readers and reach new audiences. But I also like controlling the look and feel of my own publications, and hopefully growing their contributors and audience.
Where it gets tricky is deciding if you should go all-in on your own publications, or if you should shut down a struggling publication and write for others — or if you should just continue trying to have it both ways.