One is a programming language, while the other is a runtime. So, you wouldn't be wrong to question the basis of this comparison. Let's quickly get the basics out of the way before we explore the comparison in depth. Though it is over two decades old, Java continues to be an immensely sought after object-oriented language in the market. Also, rightly so! It is not only one of the most robust general purpose programming language you will come across but is also platform independent as well as portable. Now, Node.js; a runtime underpinned by the V8 JavaScript engine, Node.js enables the development of quick and scalable network apps. Further, it also helps cut development costs; it's no wonder it's a part of virtually every Java solution in the world.

Now, let's take a look at both Java and Node.js' advantages and disadvantages:

Java:

1. It's WORA (Write Once, Run Anywhere) approach translates into the ability to execute Java code on any platform, no matter its source of creation.
2. Every Java IDE is a comprehensive ecosystem capable of supporting every stage of back-end code development.
3. Despite its many advantages, the Java development process lacks slightly in pace as compared to that with Node.js.
4. Java tools can be quite challenging to configure, as Java is instead a complicated language.

Node.js:

1. Node.js allows JavaScript to be used on the front-end as well as the back-end, effectively resulting in smooth and continuous foundations.
2. Like Java, Node.js is also capable of asynchronous execution of requests, but the latter delivers superior horizontal scalability, thanks to the addition of more hardware.
3. It features inbuilt libraries that allow developers to code in a reactive manner. While this Node.js feature is simple, it's Java equivalent is notorious for being highly complicated.
4. JavaScript's ecosystem isn't as robust and balanced as Java, which directly takes a toll on Node.js' performance.
5. There's no denying that Node.js is an excellent resource that comes with an abundance of plugins. However, it will never be a match to a Java IDE with a compiling and debugging system, which, in case you are wondering, renders development significantly accessible.

So, which one should you pick? Well, it depends.

If you are planning to create an app that will involve lots of code, Java web development is a better choice since not only does it offer a robust typed source, but its development tools to be loaded with dependable features aimed at both compiling and fixing bugs.

However, if it is a web/mobile app that you want, Node.js is the one for you. Node.js is quick, simple, and delivers undeniably better performance when it comes to small applications.

While both Java web development and Node.js come with their own compelling sets of pros and cons, the fact remains that the ultimate decision should be ideally based on what the requirements of both your business and the app you intend to build for it.