I think the best option is somewhere in between. Look at Jurassic Park; it's aged incredibly well, largely due to the fact that they blended CGI with practical effects. With CGI, even in something as recent and big budget as Infinity War, most of the movie looks like a video game cutscene.

The real solution, I believe, is to do as much as possible with practical effects, and fill in the gaps with CGI. When it's used to enhance what's already there, CGI looks phenomenal and ages well. When used as the primary focus, you lose the audience once the movie is more than a couple years old, and you get stuff like Willem DeFoe's disembodied head floating in front of a greenscreen.