You and the answer you shared have have summed pretty much the advantages and disadvantages for both. But i would like to mention few things
Someone mentioned in comment on the answer you share (and there is infact impression in people) that EMR adds some cost on top of ec2 nodes (which is underlying master/compute nodes of spark) and provides just the cluster, which isnt the case.
But what elastic map reduce is focused on is elastic
and scalability
part , meaning to provide scalability for your jobs, where scalability is not just number of node in cluster but different parameters like
Dynamically resizing the cluster with running jobs
Reduces and optimizes spin time , provides efficient resubmitting steps and option like automatic termination on step completion
Configuration, management and updation time. Just as an small you have things like release version that automatically handles spark/hadoop/other-application versions providing you way to easy update the version which you have to do manually with ec2.
the ecosystem availability. EMR ecosystem is growing,it doesnt reflect when you start but for example when your requirements grow, for example when you start to integrate other systems stream processing with flink for example) then it is more easier to just select at time of launching flink
, pig
, hive
and moany more etc if you need to use other things in future.
There are already implementing libraries with AWS SDK like boto3 in python that help you to submit steps, poll for completion etc, which are very helpful when you need to scale. Also, you have integration of emr with orchestration frameworks like airflow where can can sense the state, resubmit, one command spin the cluster within the pipeline.
Expanding on previous point, EMR notebook for example provide you the quick and interactive way to submit spark jobs from Jupiter notebook and see the result, progress of jobs immediately which can boost your productivity.
This point is most important from my experience, Sometimes, scaling up the jobs with more nodes save you more money then long running jobs with low number of nodes. Because the adding node cost sometime cost you low than the normalized hours you will be spending with ec2 or small emr cluster. Just to share my experience, we had a job that used to run for 3 days, we satrted to run it with bigger EMR cluster that reduced it to 6-8 hours and it still was in the same cost and was infact a bit less.