Which photo looks better? I don't know -- I was surprised how good non-processed JPG coming out of camera looks.
I think the JPG version looks better, the RAW is too washed out to my liking.
But point is not which looks better, but which lets you recover more detail. If there is no need to recover and the shot is exposed perfectly, with proper in camera PP, then simple
adjustments in PP on the computer won't improve the image much, if at all.
Not all shots are going to be perfectly exposed (or have the correct white balance), and not all will have proper in camera PP. And the camera will never be able to (at least today) make any advanced adjustments, by using selective masking, and bringing out razor sharp detail with advanced methods.
It doesn't take much time at all to batch modify RAW images with a single preset, similar to what the camera does, but with richer types of adjustments + you get the flexibility to apply different presets to different groups of photos. For example, a shaded shot will need different adjustments from a sunny shot. And it's easy to go back in case it doesn't look right.