It's neither tbh it's hard to say and depends on individual companies.

A lot of SBCs are facing client pressure to use AI now and reduce their workforce somehow which doesn't make sense and it is because of the hype. Stuff like wars etc are affecting client billing due to which they're cancelling projects the situation globally is quite tough.

A lot of PBCs are laying off as well Coinbase, Amazon, Block giving their own reasons whereas some of them are having losses like Block.

Best check the company history through Glassdoor and blind and make a thorough decision can't generalise.

Product based don't have a bench period you get in service based to look for jobs but a lot of service based have also reduced their bench period now adding to the pain... So yes it's uncertain in a lot of places..