But then the child owns the account which is slightly worse for FAFSA calculations than if parents do when it comes to asset calculations (no a huge deal likely if you’re earning more than $220k since you won’t qualify for much need-based aid anyway).
But more importantly, it also prevents you from ever changing beneficiaries since the money comes from a custodian account for the child. Personally, I prefer to keep control of the money before and after they get to college.
So really IMO the only advantage of ESA is ability to invest $2k/yr per child in just about anything you want. For everything else, 529 plans are more flexible and IF you’re lucky to live in a state with a good one, they come with tax deductions that are hard to pass up. But there’s no reason to have only one of them particularly if your in-state 529 plan sucks.