We’ve done side by side comparisons on two cameras, a GoPro and a Canon DSLR of ‘photo’ and video time lapses.. On both cameras we did a ‘photo’ timelapse and a ‘video’ time lapse.
After editing and color correction (photo version in Photoshop and video version in Final Cut), there was no major difference in the quality of the two on either camera - and when considering that it took 4 minutes to edit the video version and over an hour to do the same thing on the photo version, we’ve decided to use the ‘video’ format for our time lapses...