Pegging vs a real cock? They’re simply different, but both are good!
Most real cocks, but thankfully not all, are much smaller than the harnessed dildo you can take when being pegged. So, that’s a minus for real cocks. That stated, real cocks deliver semen, and knowing that I just took a load balls deep inside me and I’ll be absorbing it into my colon walls, is incredible!
As RichardAsni wrote, feeling a real cock thrusting in and out of your asshole, feeling its owner build to an orgasm (and knowing what that feels like when you’re in a warm, tight, slippery hole!), and then drive into you over and over again, knowing you’re getting a good load of semen is indescribable! Bareback, of course!!!
OTOH, when you’re getting pegged, you can have a porn star sized cock inside you that never goes flaccid. The pounding can continue as long as your Mistress deems you shall receive her efforts.
Hey, steak is great, but so is chocolate!