Comment by tetha

I'd summarize it as: The Unreal Engine, especially in the 3D realm, gives you a far higher ceiling of possibilities, but it requires a lot more work and effort to use it. Godot, Unity, GameMaker, RPG Maker, RenPy and many more limit your options, but also need less work to get something going.

If you have 1-10 people trying to make something cool, you'd never reach for the Unreal Engine because it is just so much stuff to lift and juggle. If you're a large AAA studio looking to make Fallout 5 though... Godot might end up a bit limiting.