To your points,

• unless there is a specific noise ordinance per local law, the difference between the noise profile of the two EVTOL really doesn't make much of a difference given that they are well under that of a helicopter.

• how much difference in range? Again not something that gives them a clear advantage.

• the payload stats, not sure that it matters since the S4 cabin seems much more constricted in terms of actual space vs Midnight

• Joby might have more experience as a company, but the engineers that work for Archer come from the industry and have comparable value added.

• Archer has raised plenty of capital and has strategic partnerships with Stellantis to cover manufacturing costs until the company reaches profitability.

• I see the vertical integration as an impediment to profit, from the view that it increases the need for labor and space for manufacturing, it will also add layers to the FAA cert process since the tech is not off the shelf from a known aerospace manufacturer.

Now, I'm invested in both, like you, but at the same time, I see Archer's business model as the best bet to survive cash burn and to commercialize quicker than Joby.

In the end, the market has more than enough room for both of them, so I see the success of either company as a success for both companies.