>>63978735 (OP)
Somewhat depends but basically lots of factories with sufficient infrastructure are better if you have he manpower to use them.
High-tech factories are more capable of both producing high-tech equipment and producing lots of equipment per factory but that doesn't matter if you can't get enough resources to them to keep them running at full capacity.
And all equipment needs to reach a critical mass to be worthwhile, even if you have 4 giga modern sci-fi artillery pieces you can't get much value out of them on a 1000 mile front.