I guess like any piece of equipment, there are pros and cons.
If you have the room, a properly sized refugium offers a lot more visual appeal, as well as a sort of nursery (or prison, depending on the inhabitant) for a variety of critters. Properly sized in my world, means at least 20% of the tank volume with no real upper limit. Bigger is better IMO. Again.....IF you have the room.
If you're using a sump refugium or an external refugium that is less than 15--20% of the tank volume, I tend to question it's effectiveness - based on how most people set them up. I'm sure someone, somewhere has built an awesome refugium only 7% of the tank volume, and it works AMAZING. In my experience, that's not the norm. Most are set up fairly simple.... i.e. not optimized for maximum nutrient export efficiency.
I was building DIY algae scrubbers back in 2007--2008. They weren't pretty or fancy back then. You really had to like tinkering, to build one and get it dialed-in so it would function as intended.
Again, there's a minimum size (surface area of the mat) requirement. I don't know what that size is .... I've not studied commercially produced scrubbers as I tend to prefer the refugium.
As an example, my newest build is a 40g breeder with a 20g display refugium. It has an Icecap 24 sump, which is pretty oversized for this tank. But...... I have the room.