Hub vs Geared/Belt setups?

Forgive my ignorance on the topic and lack of correct nomenclature.

I’ve been considering a few different options with regards to motor components and was hoping someone could share their opinion and offer advice. Without knowing too much, it would seem to me that hub motors are geared somewhat lower and perhaps would be less efficient / less flexible than the standard component motors for the majority of builds I’ve been reading about. Is this the case? Could anyone explain the obvious tradeoffs and what they like / don’t like?

Thanks!

we discussed this a while back too here:

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