I asked my co-worker Caleb who worked with both Cypress and Playwright, and this is his response:

"Mainly user preference.

Cypress kind of tries to auto magic stuff with their own kind of ‘DSL’ like language. with their ‘Chainable’ stuff.

Playwright is kind of more classic async/await less ‘magic’

I think some of the biggest things feature wise is playwright can run multiple browsers in parallel and make multi tab easier.

where cypress doesn’t support multi tab stuff.

Where cypress has a nicer UI/Headed mode and playwright is just now adding some of that stuff. and cypress has more support for component type testing."