[ewjordan]

You'll have freedom to do the things that are fashionable in your field which you are qualified to research and are popular in your department. That's very different from "what you want to pursue" in many cases.

If those things match up with your desires, it will be great, otherwise you're going to be seriously miserable and feel penned in by the work that you're "allowed" (for on-campus political reasons) to do. In a lot of ways industry actually affords more opportunities, depending on the field.