I guess that it just proves that year 12 isn't the be-all and end-all.
Very true, and those that didn't get their 1st preference should keep it mind. I think in some ways the transfer route is the easier one, but it depends on individual learning style, one's ability to adapt to a uni environment, and the individual course & university.
Is an 80 WAM easier than a 98.x ATAR? For me, yes, but it's an individual thing. Year 12 can be hard because of pressure, because you may need to learn a lot of stuff you aren't that interested in, and because it can contain a lot of stuff that isn't really learning, so much as memorization of meaningless stuff. Uni can be easier - you might be a lot more motivated, but you may also struggle with the pace, the volume (which depends on course etc.) and the self-directed nature of it. In either case (the high ATAR or the high WAM) you are actually in a fairly small percentage of people - not that many people can pull an 80+ average, even in the 'easier' courses.