Both of these have their pros and cons, but which one do you prefer? The ruggedness of the Osmo Action or the stability and additional features that the Pocket 2 can provide? Looking to get one and can't really decide as I will have a combination of different types of activities to shoot. If you can only choose one, which one would you pick?

gopro 9 is 350 to 400 on gopro.  I just bought it.  It is way better.

It depends whether you need an action camera or a gimbal camera.  Two very different devices for two very different purposes. I have both.  I've never used the Action much as it hasn't even got horizon levelling of any kind.  And I almost never do action videos.  The Pocket 2 in the creator combo version is an excellent gimbal camera, probably the best available at present, not least for its video capabilities but also for its audio features.  But to repeat, it depends what you are planning to shoot.

Pocket 2 Creator Combo for the win.  

I ended up buying the Pocket 2, as I already had an action cam and liked the thought of stabilization and the chance of remote-controlling the gimbal wirelessly. But it mostly indeed depends on the footage you are planning to shoot. If you only shoot so-called action footage randomly (and not much under huge fast shaking, strong impacts and in water), the Pocket 2 may be sufficient with some additional accessories, but if you, for instance, plan on going underwater often or attaching it onto a BMX bike while doing stunts, an "real" action camera might be a better investment.

My planned usage for my Pocket 2 is mostly about documenting, interviews, social media journalism etc. Not that much about extreme sports or diving underwater.

I'm using Pocket 2 as ground camera to comply drone footage for travel videos. Stabilisation is great, video performance is on same level as iPhone XR or X or 11.
But whet your iPhone is on drone remote you can't use your camera us usual. So it Pocket 2 is great secondary camera for travels, interviews and vlogs.

Blellow Posted at 7-3 13:02
gopro 9 is 350 to 400 on gopro.  I just bought it.  It is way better.

Overpriced and overhyped IMHO. Waiting for the Osmo Action 2 instead.

My Osmo Action stopped working with 7-8 months. It was within warranty but I neglected to contact them. I contacted them today, 13 months after purchase and they refused to take responsibility. I have Gopro 4 and 5 still working. I am going to wait for the new GoPro10 that will come soon and forget the poor experience I had with DJI products and customer care. Yaqov

For me, if I ever have to decide to buy only one between them, I would choose Osmo Action.
As action camera, Osmo Action is among the best ones.
As "walking camera" (like Pocket 2) is good enough and lacks only the horizon level.
The stabilization is very good, except in low light, the image quality is very good, color profile not so good (but you can use flat color profile), audio is good and you can change the battery to have a plenty of record time.
Finally is quite rugged, while the pocket 2 is quite delicate.