This setting seems more optimal for actually doing theoretical work of your own choosing without getting distracted by a need to compete or justify your interests. It seems less risky/way easier than trying to get the same benefits while working within academia, but you won't get the external motivation/guidance/sanity-checking and by default won't be as close to the professional community.
It seems less risky/way easier than trying to get the same benefits while working within academia
Right, you can get the same benefits in academia by getting tenure, but how many people manage that, and even if you do, the most productive period of your life might already be over by then.
but you won't get the external motivation/guidance/sanity-checking
This is an important consideration. The external motivation/guidance/sanity-checking provided by the relevant online non-professional communities were enough for me to be productive and not become a crank, etc., but maybe (as cousin_it suggests) I'm very unusual in that regard.
Thus spake Eliezer:
It seems that many here might have outlandish ideas for ways of improving our lives. For instance, a recent post advocated installing really bright lights as a way to boost alertness and productivity. We should not adopt such hacks into our dogma until we're pretty sure they work; however, one way of knowing whether a crazy idea works is to try implementing it, and you may have more ideas than you're planning to implement.
So: please post all such lifehack ideas! Even if you haven't tried them, even if they seem unlikely to work. Post them separately, unless some other way would be more appropriate. If you've tried some idea and it hasn't worked, it would be useful to post that too.