It has many advantages and is right for a lot of people

I'm pretty sure I could make more money and would be able to make it as an independent consultant (as a programmer) or even as a true entrepreneur.

But I like to be lazy. I currently make more than enough money and am more productive than most of my team even if I only put in 50% effort. That relative high productivity and my knowledge makes me a very valuable employee, which gets me a lot of leniency and benefits. It's extremely comfortable and for the most part gets me the (non-financial) advantages I would have running a successful business, without the stress and effort. So for me, at least for now, being an FTE is perfect. My kids are small and I have plenty of time for them, and plenty to spare for myself.