Orchid is more expensive?
But only one needed.
Orchid's strength is all the controls at your fingertips - as it screws onto the micstand in front of you.
The one device copes with all the instruments you might wanna plug in. The mute switch is 'silent' in operation and you can still tine up when it mutes, you don't bother the audience while it happens...
The mute switch pressed, you can talk to the audience tween numbers and change to another guitar/mandola/cittern -whatever you need next.
The tone and volume controls at your fingertips means you can make your own adjustments to each instrument's nuances.
Floundering around on the floor to perform these functions is hardly slick - but if you only use one instrument, then the Baggs is indeed a fine choice.
If however you flit tween guitars (like I do) and/or other such instruments - then you either flounder to make changes - or have one pre-amp for each (consequently using more channels up on the PA) - and that's more expensive a route, methinks?
Batteries for pre-amps fail at the most in-opertune moments ( once had to pass a certain M Carthy a battery during his set at Walton on the Naze fest - his guitar sounded appaling for three or so numbers before it was suggested his pre-amp battery needed a change!)
The OPrchid runs off the PA's phantom power - the converse argument being that 'not all PAs have phantom power!
These days that's be a right rarity at most venues and fests, though.
In ten years of extensive gigging at venues and fests both UK and Europe - I've yet to be flummoxed by that argument - it just hasn't happened - and that, in spite of me carrying a back-up power supply all these years - now THAT was a waste of money! ;0)

When all is aid and done - ALL the above systems work well - and one merely makes the choice on what you can afford and what suits your own purpose best.
Happy hunting - happy playing!
DO post the end result when you make that choice - cheers!