Would I be wrong in saying that it depends on your current play level or experience?
For beginners, or idiots like me, playing on the Tournaments is a better place to start.
As with any skill when just starting out, like the stock market, you're going to lose money for the first while as you get the gist of the game until you garner enough experience to break even, and eventually start to make money.
That money lost is an investment, like university tuition. You've got to put in the table time, see tens of thousands of hands, which costs money. Table tuition.
To sit down at the cash tables is a 1:1 chip to dollar ratio. One dollar gets you a one dollar chip. If you go all in for $200 dollars and lose, you are down $200.
A low stakes Tournament buy-in costs a fraction of the price and gets you a higher chip to dollar ratio. $11 can get you $5000 in chips, 10,000 in chips, whatever. You can play a lot of hands and if you bust out, you can still buy in to 18 more tournaments for that $200. Sure you could say the same about micro-stakes cash tables, but from my experience players end to play somewhat more serious in tournament's as if they bust out, they can't just buy back in an unlimited number of times.
For intermediate players and beyond, I wouldn't presume to assume I was one, but I still enjoy tournaments or sit n go because I enjoy the structure and additional strategies to consider. Cash tables are probably more profitable as it's easier to come back from a downturn, but that really depending on your MTT win rate.