Thanks to you both!
I think it's good to know that there are pros and cons to both options, regardless of price.
I have seen that it's $5 per person for the Ferry, and it's a 15 minute ride (30 minutes round trip, which is why it runs on the half hour). I imagine the taxis run independently so pricing may vary from fare to fare and one could get a price for a taxi that is significantly higher than they would pay for the same party size on the Ferry, while pricing with another taxi service may be more comparable in affordability.
At the end of the day, it sounds to me like the taxi is more direct and on-call, while it may be a bit more expensive. I think this would be a preferable option for parties that have small children, multigenerational travel parties who have grands who would benefit from being dropped directly at the resort, parties with individuals who are cognitively or physically limited and/or disabled, and people who want to be on their own schedule more-so than having to plan their morning/afternoon around the half hour schedule of the ferry.
The ferry sounds to be more reliable with regards to affordability and is a more novelty option, while requiring a bit more legwork (literally) and some wait time for passengers. This could also be a preferable option for someone who doesn't like the traffic patterns/driver behaviors on the island. I was just there with a friend who has serious anxiety about driving, we did the Jeep excursion and she didn't end up getting to drive because we were paired up with another couple (fun fact, you don't get your own jeep if you're a party of 2), and we almost forewent the excursion altogether because her anxiety was running very high not being in control of the vehicle knowing the traffic of the island like she does from visits in the past.
Thanks again and please let me know if either of you have any additional pros/cons to offer on each option so I and future cruisers can make a truly informed decision for their day at Nassau!