In my opinion, both of them are important in higher education (Masters/PhD levels), but students who intended to continue their study to get PhD, important to them to get thesis, because it prepare them to their future as researcher.
I think either track is ok, but in my experience, it depends on your goals. Like Faisal has said, if you intend or are considering to continue on towards the PhD track, a thesis route will give you more experience in what is to come as a PhD student and a future researcher. However, if you plan to obtain only the masters degree and return to the workforce, a comprehensive track is much less likely to be delayed due to reasons beyond your control.
We got this question frequently from our students. If the student wants to pursue PhD study, thesis track is the choice. Many graduate students are coming from industry planning to get a manager position, so a comprehensive track or master of engineering in engineering MEng program 8 courses with (1 credit proposal + 2 credit project with report).
I think both tracks are good ; it depends upon the position or the job to be held after getting the degree ; as each has its advantages and disadvantages
Thesis, thereby demonstrating the capacity to obtain and produce knowledge at a very high level. But of course it depends really on the nature of the subject studied, but nevertheless a good thesis will bring a good career.