As your research shows the ESP32 is superior in most ways. I have been using the 8266 successfully over the last couple of years but I understand that recent versions of WLED are getting more demanding on CPU usage and the 8266 might struggle.
If you are starting from scratch I would go for the ESP32 and future proof your display.
I have recently bought several for under £5 each (UK) and will soon be replacing my current setup.
Alan