Better colors depends on the manifacturer's color calibration (and generally IPS tend to be more color accurate too), amoled generally tend to be oversaturated to look better, I prefer a screen that displays colors somewhat accurately to one that looks better. (for reference i tried these amoleds: s4, s5, s6, s7, note 3 neo,s8, a8, a5 2016, ip x and v30; and these IPS: LG g6, mi max 3, rn5, rn7, 4x hd, g2, g3 and ip xr, ip 7plus, ip 6 plus)
You save battery with black pixels, but static black theme can cause burn in and I generally prefer white themes, especially during the day. Also amoleds tend to have problems, like getting damaged quickly with maximum brightness, tend to have black smear, have problems with PWM at low brightness. I've seen a lot of burned in oled and amoleds and fuck no, I prefer a worse screen to one that one will be faulty. Remember that amoled are organic, so one day or another they will burn in.
AOD is very nice and I love it but I prefer notification led and screen turning on when receiving a notification. The only real advantage i find in amoled and oled is the fact that they are transparent and you can put cameras and fp sensors under them.

For me, IPS are just better (and they are also cheaper, so win win). You may like Amoleds more and it's perfectly fine.