Maybe life is different where you live for DB pensions, but where I am, they can be bad, or they can be good.
Firstly, is your pension indexed to inflation or CPI? because, if it isn't, it will gradually decrease in value over its lifetime, and can't be directly compared to a lump sum that you invest (which is effectively indexed). Secondly, these sorts of pensions are often called "golden handcuffs" because quite often, if you leave that employer early, the pension is worth a lot less than if you retire at a certain age from that company.