Apart from finance, as cited above, the biggest difference is that your building would be covered by strata law, with all its flaws and inconsistencies but a regulated set of by-laws, rather than company law and the decisions of your board. With that in mind, intractable disputes in strata can be resolved at little cost through mediation and the state tribunal while in company title, it’s off to the Supreme Court (if Vic is the same as NSW in this regard).
Yes, I know tribunal disputes can get very expensive if both sides resort to lawyers, but they don’t have to.
Company title articles may offer your owners the option to ban pets, airbnb, control rentals and even (unless the laws have changed) ban children. But those “freedoms” may actually be the reason you want to move to strata.