What is the Bitfinex experience like? I find Kraken's implementation to be rather clunky.

With Kraken you must approve an address via email before withdrawing to it. For on-chain this is OK as an address can be reused and lasts indefinitely (poor privacy aside). But with LN invoices this is very cumbersome due to their one-time-use and expiration time. You need to flip back and forth between creating an invoice and approving email confirmations every time you want to withdraw.

I would imagine managing liquidity for such a large exchange would be a bit more complicated than that, even if they don't use their liquidity to route payments. Like making sure they have enough inbound/outbound liquidity and connecting to good peers.

I think that's a bit above Binance's usual forte of listing yet another ERC-20/BSC shittoken.

Also I should mention that Binance by default still uses Legacy addresses. It's so frustrating. The default address you get for deposits is a legacy address (i.e. the one the vast majority of people will use). Segwit address is listed as "BTC (Segwit)" which probably makes a lot of people think Segwit is just another sidechain like their BSC stuff.

Even if the reason was seemingly compatibility with 8 year old wallets that still haven't implemented the new address format, they could at the very least use P2SH segwit. Instead the chain gets clogged up every time Binance decides to consolidate.

Running lightning as an individual is just installing a wallet.

Liquidity management, channel management, managing the hot keys, managing channel state and making sure that you have high availability for your nodes while keeping channel state consistent, all of things things are complicated and dont just drop into place with the cold storage systems that people have for onchain bitcoin.

Lightning at scale is very complex.