Personally, I prefer oceanfront with large waves and near constant breeze or wind.
My family members prefer bayfront because they own boats suitable for ocean fishing and related activities.
Nevertheless, several years ago I lost out on my dream lot which had over 300 feet of bay frontage. Very busy bay with lots of fishing boats, pleasure boats,aquatic life,and other activity which provided a constantly changing view.
Also considered a lot which had both bay & ocean frontage.
If someone is looking for ocean front, this house just slashed its price by 20%! Now only $59.5 million instead of $75 million.
It totally depends on where you are. On the Outer Cape (Cod), both have beaches and are swimmable. The bay has incredible sunsets and phenomenal views over marshes as well as places to launch a kayak (and all the harbors), etc. The ocean has incredible sunrises, surf, a sense of wildness and vastness, and in general, is less buggy. I am partial to the ocean for swimming but love sitting on a porch on the bayside and watching the sun go down. Great reasons to love both.
In other places, the characteristics may differ depending on so many factors from geography to how it’s been developed.
At either, climate change considerations could impact safety and longevity.