Perhaps one advantage that even deaf people might not appreciate - being at "peace".

There are many who can hear who crave little or no sound. Being unable to hear is a (semi?) permanent mute button. No noise, just your thoughts and whatever you can see.

The biggest downside to being deaf? Missing out on omnidirectional communication. Whether that be hearing the telltale sounds of a critter in the bush, or conversing with someone without sight, that would be the major disadvantage.

That being said, it isn't perhaps as big an issue as one might imagine - bear attacks don't happen only to deaf people, plenty of people get hit by buses they could have heard, and often nobody listens to the intercom anyways (sometimes it is inaudible over general noise).

The next biggest, probably music. But again, a lot of music is objectively bad (stressed loud notes that are designed to attract attention versus complex or thoughtful melodies), when you reduce many vapid pop songs to their linguistic components, you might suddenly find you aren't missing out on much...

I can hear, and I appreciate the convenience. However I also struggle to find auditory peace without jamming my ears with plugs, and I appreciate the calm and quiet... I'm not sure my quality of life is that much better as a result of being able to hear.