Are you a relatively new parent? Your question is framed as though there are two extremes, which may well be the case if you have a very ‘high flying’ career.
I like many many women I know, scaled my career back, went freelance, then part time, then freelance again and I now have two freelance income streams, the other totally unrelated to my first career.
As many others here have pointed out, the main risk with ‘giving up’ completely is that you can’t count on the other partner. Anything could happen, death, divorce, illness - for me it was the second one. I never thought my kids’ father and I would split but we did. Trust me, juggling all those school runs and sick days with no one to share it with is even harder.
What your question is really about is flexible working - the ability to scale back and lean in at different times, when kids needs us more and less. I can imagine that the ‘big four’ finance firms and the long-hours corporate careers just don’t do that yet. Whereas the area I worked in, the media is more flexible and also uses loads of freelancers anyway - so with a few contacts you can find a way to build work around your life, rather than force life to fit around the office. You probably wouldn’t envy me and I don’t have loads of ‘followers’ or a glamorous online profile but I have consistent work that I can do in school hours and/or with limited childcare and I can be the mum they need without feeling like I’m too up against it. That to me is winning right now. I might go back to something higher-pressured once they’re grown up - I’d quite enjoy the challenge, I think. But with a teen and a neurodiverse school-refuser this is where I need to be right now.
Theres no right or wrong as we all have a different set-up but if you feel that something is not quite right, think about what work you can create or generate, not just ‘apply for’. Corporate isn’t the only option.