When comparing GameMaker: Studio vs Godot, the Slant community recommends Godot for most people. In the question“What are the best 2D game engines?” Godot is ranked 1st while GameMaker: Studio is ranked 6th. The most important reason people chose Godot is:
Godot has a mature 2D engine with many features used by modern 2D games.
Specs
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Pros
Pro Gives developers access to a more fine-grained controle over the logic through the Game Maker Language
Game Maker Language (GML) is the primary scripting language that is interpreted similarly to Java's Just-In-Time compilation used in GameMaker. It is used to further enhance and control the design of a game through more conventional programming, as opposed to the drag and drop system.
Pro Extremely easy to learn
GameMaker: Studio is incredibly easy to learn. It requires almost no programming knowledge which means that those without the technical experience, such as designers or artists, can create their projects without the help of a programmer.
Pro Easy to find resources/tutorials/assistance
GameMaker: Studio has a huge following, tons of people put up tutorial videos, and it's just generally easy to find help. It has a huge community.

Pro Easy cross-platform shader support
Write your own shaders in one shader language and have it automatically ported to all platforms. You can even choose a specific shader language to wield the full power of the target device.
Pro Assets can easily be found in the official marketplace
Yoyogames website has a marketplace which opens up an opportunity for people to sell or giveaway created assets and resources (sprites, scripts, sounds, extensions, full source codes, etc.) for use in GameMaker. This benefits people who needs quality assets for their games, and for creative people to provide these assets for extra income. The Marketplace has a rating system so it can eventually increase the quality and competitiveness of the assets submitted.
Pro It has an IDE used for loading all of the assets
It is very easy to manage all the resources you want to put in your game, the UI widgets for each assets (sprites, sounds, backgrounds, rooms, objects and shaders) are intuitive enough for when adding or even editing the properties of each your assets. The included editors are also good and easy to use (sprite/image editors, shader editor and room editor).
Pro Extremely stable
GameMaker: Studio has been around since 1999 and has been used and maintained during all this time. This makes it an extremely stable game engine.

Pro Cross-platform multiplayer support
There is the possibility of creating games that interact with different platforms and is not that hard.
Pro Built-in support for pixel-perfect collisions
Enabling pixel-perfect collisions on 2D sprites is so easy many will likely turn it on when maybe they might be better off without it. Regardless, it simplifies small and/or retro console-like game work. This is a feature fairly unique in this class of game engines.
Pro Cross-platform
GameMaker: Studio projects can be deployed to: HTML5, Linux, Windows, OS X, Windows Phone, Android, iOS and PS3/4/Vita.
Pro Easy to use
Game Maker Studios simple interface allows for rapid prototyping, and easy development.

Pro Supports 3D
There is also 3D support that doesn't interfere with the primary 2D focus.
Pro Easy to add native code to GMS
Good extension support. You can do anything with gms! You just need to know how to code natively in the respectively export (like Android).
Pro Fully dedicated 2D engine, no hacks
Godot has a mature 2D engine with many features used by modern 2D games.

Pro Lightweight
The executable is portable and less than 40 MB in size.
Pro Under constant development
This engine barely released one year ago has more than 1000 forks on github and about 100 developers. Not only that just a bit of browsing trough issues you will quickly find out the dev community loves new esp free technology and does not shy away from completely rewriting parts of the engine. The audio engine is being completely rewritten to use threads and so forth.
Pro User friendly UI for all your team
Non-programmers (musicians, artists, etc) can join the development easily.
Pro Editor and runtime are fully cross-platform
You can run Godot on all 3 major operating systems (Windows/Mac/Linux) and build your game to all available platforms from each without any platform-specific work needed. All platforms including Linux are supported first class.
Pro Free and open source
Godot is licensed under MIT license. Anyone can grab the source from here, and compile the engine themselves.
Pro The list of supported languages is growing
Officially, Godot supported languages for now will be GDScript, C#(Mono), VisualScript and C++.
Pro Can be deployed to multiple platforms
Deploy games to desktops (Windows/OS X/Linux), smartphones (iOS/Android/BlackBerry), and the web (HTML5 via Emscripten).
Pro Drag & drop interface
Many parts of the editor allow you to drag & drop, which makes working with assets and scene trees a joy.
Pro Integrated animation editor
Every property can be animated.
Pro Built-in physics
Add physics to 2D and 3D scenes, through rigid and static bodies, characters, raycasts, vehicles and more.
Pro Unified game editor interface
All the game development work is done inside one program: the engine editor. The scripting is done in the same program. No need for Eclipse or other front-end editors.
Pro Instancing and node concept makes sense
The node and the instancing concept work very well and helps developers to structure content efficiently.
Pro Fun to use
An important aspect that can't be grasped without using the engine for a few days. The Interface is evolving nicely and making games is just fun.
Pro Internationalization of the editor
You can change the language shown in menus. Godot translations can be found here.
Pro Easy to learn scripting language
Godot has their own scripting language called GDScript. The scripting language is easy to learn with Python-like syntax, but it is not Python. It's very powerful, easy to learn, and it's free of unnecessary things because it was custom built for optimized integration with the Godot Engine.
It can be used to add custom behaviors to any object by extending it with scripting, using the built-in editor with syntax highlighting and code completion.
A built-in debugger with breakpoints and stepping can be used and graphs for possible bottlenecks can be checked.
Pro Really good community
The community is great and really cares about the engine. It is easy to get help and to be part of Godot's future.
Pro Creating editor tools is a breeze
Godot Engine is itself a Godot game. By adding the "tool" keyword to the top of a script, you can design extensions for the editor itself INSIDE the editor. Integrating these editor scripts into a bundled plugin for sharing is extremely easy to do.
Pro Friendly towards Version Control Systems
The engine is build not only to support version control but to really use it. Scene files for example which usually get compiled into some sort of unreadable data stay in a text format - that way you can actually see your changes in a version control system like Git.
Pro Doesn't need to be installed into the system
Godot is very portable, you can download the file from a website then put it on a USB and run it on your other computer without any troublesome errors.
Pro Easily expanded scripting system
With 3.0's addition of NativeScript and PluginScript via GDNative, developers can easily define bindings for new scripting languages. In addition to the primarily supported C++, GDScript, VisualScript, and C# languages, the community has contributed D, Nim, and Python as well with more on the way.
Pro Incredible documentation after 3.2.2 beta
The documentation used to be weak, but now we have nathen with his help the documentation is the strongest advantage.
Pro Scene Based editing
Godot gives you the ability to create scenes to make your life easier, with reusable objects and things you want to incorporate in your games. This makes the game making processvery streamlined and organized.
Pro Built-in documentation linked to the internal ScriptEditor
The editor has a fully searchable index of class API documentation for everything the engine offers (NOT just a web interface). You can easily open the documentation for any class by Ctrl-clicking the class's name in the in-engine text editor for scripts.
Pro Simple and readable codebase
The engine's source code is easy to read and understand with a self-documenting approach to code design. You don't have to wait months or years for other people to fix an engine bug that is important to your game. Often times, you can spend an hour or two of your own time to fix whatever problems you encounter yourself.
Pro Easy to get involved
No need to learn anything with node, you can build a game without typing a line of code + has visual scripting.
Pro Engine is yours
There is no royalty and the game you made + engine itself is yours.
Pro Can be installed on Steam
You can easily install Godot via the Steam store.
Pro Comprehensive tooling
In addition to the scene editor and the script editor (with debugger), the engine also provides a tile map editor, an animation editor (not just for rigs), a performance monitor, a network profiler, and an audio bus console.
Pro It has a visual scripting tool (Godot 3)
It has a great visual scripting tool. It's a great choice if you don't like to code. This was however removed in Godot 4, so you will need to use the (still supported) Godot 3 branch for visual scripting.
Cons
Con The scripting language used is quite limited
Language does not support actual objects, structs, real data types, functions, overloading, even argument naming. Developers generally have to code around the lack of these features in very tricky ways.
Con No GUI editor
The GUI must be hard-coded, leaving a lot of tricky calculations and jumping through hoops to accommodate different devices and displays; it's probably the least developed and hardest thing about GMS2 compared to comparable engines

Con Destructive DRM
In late 2012/early 2013, YoYo Games released a version of their new Studio IDE for cross-platform development that would import games and destroy all of the image type resources for some legitimate purchasers of the software by superimposing a pirate symbol on top of the image. This was due to a fault in their digital rights management software implementation which they use as a method of combating pirated copies of the software. Though the false positives bug is reported to be fixed, the DRM is still in place and may affect placeholder graphics, etc. YoYoGames publicly stated they would remove the DRM at a later point in time, but that other less-invasive DRM techniques would remain.
Con Exporting to some formats costs extra
You need to buy extra modules to be able to export to platforms like Android, iOS, HTML5 and others.
Con No built-in refactoring tools
There are no built-in refactoring tools. For example, you can rename a resource, but GM:S will not automatically change the mentions of it across the code to the new name. Furthermore, because all file formats are text-based, basic refactoring could be achieved by simply doing "find & replace in all files" -- which is a feature offered by pretty much every external code editor nowadays -- but no such feature here. Hitting Ctrl-F will pull up a rather odd Find/Replace box but selecting a word before hitting Ctrl-F will not autofill the Find field for you like it will in most tools. Even that you have to cut and paste yourself.
Con The cost to buy for development is outrageous
The cost for this tool is hindering for indie developers who have little money to work with.
Con Bad history of ignoring critical bugs
In the past, the developer failed to update the software for iOS and Android when game-breaking updates were made to those platforms.
Con Development has been and will be cosmetic
The change from 1.x to 2.x was cosmetic, the engine and language stayed the same. The roadmap for future development is also cosmetic and includes updating the sprite editor, adding an audio editor, and adding a "mini map" for the IDE.

Con Poor level editor
No marquee select, no layers, can be glitchy, no grouping, etc.
Con Can't embed videos in game
Doesn't support embedding videos in a game.
Con Expensive for what it offers
There are several options with more flexibility, better learning resources, and a lower price point.
Con Proprietary language forces expensive "lock in"
Because it uses GML, a very non-standard custom language, new users do not learn a transferrable language and become locked in.
Con Tends to crash or not compile games properly
Con Poor accessibility and integration
Documentation and resources largely focus on proprietary scripting language, which is necessary for achieving full potential of the software due to poor drag and drop integration.
Con No way to activate or use existing modules
Support entirely focused on new iteration depriving even basic functionality of this version with any purchase that hasn't already been activated. It is still possible, thought not intuitive, to download this version on the trail screen for GM S 2. But no purchased (wildly expensive) module can be added any longer.
Con Code editor not friendly to indented code
While the editor of course has features for intending code such as auto indent and smart tabs that can be turned on or off, these features work in unusual ways and, overall, the editor is not very adaptable to various typing styles. Also, Home always takes you to position 0 and never to the beginning of the text no matter how many times you hit it. Thus, if you hit Home and then Enter a new line, with auto indent on, it will always mess up the indentation on the line following the new line leaving you to fudge around to fix it manually. If you prefer tabs over spaces, forget it. Finally, if you leave the GameMaker app and try to click back into the code editor, the code editor will not fully get the focus sometimes leaving you with the ability to type but not tab. It usually takes two clicks to fully focus the code editor from outside the GM app.
Con This is very flat for games
They are not beautiful - for example, Undertale.
Con Owned by a gambling company, Playtech
As opposed to other engines, which are open source or owned by game companies, GameMaker is developed by YoYoGames, which is owned by Playtech, a gambling software company.
Con Primarily supports own language (GD Script)
Although C# is also supported by Godot, it is only supported by a separate version, and Mono must be downloaded separately. While GDScript is very accessible, and if you know Python you'll pick it up fast, having to learn a new language to fully make use of the platform can be a bit discouraging. And for those learning to code as well as learning Godot for the first time, many would rather learn a language they can 'take with them' when they explore other platforms in the future.
Con C++ Engine API not very friendly
The base C++ code from Godot is not documented, it's hard to set it up, to compile and hard to extend, it could use better programming standards.
Con Annoying minor bugs
Minor bugs can go unaddressed for some time, due to it being a free program.
Con GDScript is quite immature language
GDScript is copy of python and the real problem is, it is not python. Which means it cannot have all the power and new features that is available in Python or other programming language.
It does have some good features but it is not good enough for what you need if you want to deep dive into game development. You can just feel that by the godot team is solving that matter by supporting mono version. Because C# is popular in other game engine and it contains all the new features that is available from new programming language.
If i give you very simple example for why GDScript is immature, GDScript does not support asynchronous programming. Which is very efficient for performance of your game.
You may mention about multi-threading because asynchronous programming is one way of multi-threading. However If you try that in Godot, you cannot multi-threading where you want to implement asynchronous system. For example, Autoload (Fake singleton) where you want to manage data in real time. Autoload is not real singleton. It is not a separated thread that manage data. Therefore everything is synchronous in autoload. Even though you create new thread from Autoload script, your game will just stop and wait for your thread to finish its task...
Con Godot 3/4 split
The recent release of Godot 4 brings new features, but isn't yet fully documented, and performance may not be as optimized.
Con No console targets
Given that you can target both desktops and consoles with the same code base in other engines, the lack of support for consoles in Godot is pretty hard to get past if targeting desktops for a game. But asking for an open-source engine to target consoles is probably too much to ask. But it would be interesting to see some legacy consoles targeted even if current ones cannot be.
Con It's hard to learn
Con Difficult to optimize
Godot has an OOP architecture. Everything is an object internally and data is spread among many classes, thus it's difficult to optimize (i.e. not cache friendly, difficuly to vectorize or paralellize, etc).
Read about "Data Oriented Design" for more info about the problems and solutions.
Con Strange terminology at its base
Scenes can be made up of other scenes. That makes some sense. But even the smallest object (or prefab or asset) in a scene -- such as that spoon on the table or the marble on the floor -- is still called a scene... except when it's called a node. This is a bit odd for those coming from other engines. With all the great decisions behind the basic design of this engine, the choice of this term from all the potential other terms out there seems really out of place and only serves as a constant reminder that not everything about Godot is great.
Con No built-in way to import atlases
Godot does not have an easy and automatic way to import atlases created by other tools. However, there are plugins that can be used to import atlases from other engines.
Con 2DPhysics is weak compared to Box2d
Box2d has much more features.
Con NoAdmob or other AdNetwork support
Godot has no native support for implementing advertisements into your game.
Con Many buggy and half-finished features
Con Hard for a Unity user
Coming from a Unity background, Godot engine is hard.
