When I qualified into law about 10 years ago there did still seem to be a bit of a snooty preference for someone to have gone to university. Personally, I felt I might have had some broad knowledge advantages over the younger ILEX professionals but that they were far superior in terms of workplace skills they had learnt and that this outweighed the knowledge gains, especially in more transactional departments. My knowledge was rarely that practical in application. I think it might change in time but the legal profession can be a bit outdated and slow to catch up.
ILEX route is much cheaper! And now you can still end up being a partner which was not allowed before, but I imagine they still favour their undergrads who they can market as such still right now.
Definitely, do ILEX if you are doing apprenticeship route.