I was trade published with the first novel I ever wrote. It wasn't a great experience. The publisher ended up having issues with a lot of people and many writers either had their rights reverted or asked for them back. It was a big mess, but even before all that happened, I was already unhappy with the experience. I am a person who likes to be in control. I'd personally rather do 10x the work, design my own covers, get my own formatting, etc. If it means I have full control.
For example, I really didn't like the cover the publisher chose for my book. I also feel it did my book a huge disservice because it had a shirtless dude on the cover, which was NOT really the vibe of the book and I was told by a number of male readers that it turned them off. Maybe I should have argued for a different cover, but it was what they offered me, and being a first-time author, I didn't want to make waves.
There were also a ton of communication issues and I was left waiting/wondering/not knowing WTF was going on for weeks/months sometimes. I could never get clear communication or answers, and it was honestly the most stressful couple of years of my life. I realize a lot of the issues were based on this one particular publisher, but it turned me off so much that I don't even think I could ever try submitting again.
There is other stuff too. Like being told you have to do certain styles or types of promotion, attend certain events, etc. I don't like people telling me what to do. I've been self-employed for over 5 years now and I like to be my own boss, so having a publisher trying to dictate the sort of way I presented myself or the things I said online really bothered me. For example, we were told not to discuss things like god, politics, etc. Well, I like discussing those things, and I don't care if I lose potential readers over it. This is me. I want to be myself and do whatever I want, and I'm okay with developing a fan base that likes me for me. I'm not being fake or stifling my desire to discuss topics that interest me. As an author with the goal of self-publishing, I don't have to worry about offending anyone. If they're offended by my twitter, they'll probably be offended by my books, too.
Oh, and the MAIN REASON: Being trade published didn't help me sell books. They barely promoted me. I got a couple of tweets and a lousy, useless blog tour and that was it. They said it was our job to promote ourselves. OKay, I can live with that, but not when I'm giving up a huge cut of the money. If I have to promote myself anyway, I really see no benefits of doing anything other than self-publishing.
However, if you don't want to do all the work yourself, and you don't mind a loss of some control, I could still see trade being good for some.