Good for WordPress.com:
Free plan
Backups included
Option to upgrade as your site grows
Bad for WordPress.com:
Limited storage (Only 1GB). upgraded is a must.
Themes is very limited
No own domain. (upgradable)
Good for WordPress.org:
Themes and plugins are available to choose by owner.
Content/Images are controlled by owner.
Domain is controlled by owner.
Bad for WordPress.org:
Find your own hosting plan and purchase domain cost.