The problem with vacuum pick and place systems is the amount of time it takes to create the vacuum, so your design will revolve around your requirements.
If you run the vacuum continuously then, as you approach your target, you only have to wait long enough for the channels on your pick-up head to evacuate.
If you switch off the vacuum pump, air rushes into the tubing, equalising at atmospheric pressure. The next time you want to pick, you need to evacuate all of the tubing between head and pump. This could take a long time, even if you have a vacuum 'reservoir' much larger than the volume of your tubing.
In between these would be a vacuum solenoid close to the pick-up head. Here most of the tubing would stay evacuated, and you would only have to evacuate the pick-up head channels and the short tubing to the solenoid. This does require you to run power and control all the way to the head, though.
The greater the volume of tubing on the open air side of the solenoid, the greater the time would be from switching the solenoid to their being sufficient vacuum.
With a venturi generator, you can site it next to the head, keeping the volume to evacuate low, while putting the solenoid at the other end of the tube. High pressure air will rush into that tube much more quickly than the air could be evacuated, so you effectively get the best of both worlds. Fast actuation, but no need to add solenoids and run power and control to the head.
Price and the difference in pressure differentials are the big advantages of compressed air. Air compressors can easily and cheaply supply air to a venturi generator, and can cope more easily with large changes in demand.
A typical workshop compressor might store 100l of air at 8 bar and be rated at 410 litres/minute (14.5cfm). This could run venturi generators needing 80 litres/minute with the 5:1 duty cycle suggested in your quote. During that 15 second cycle, pressure would fall from 8 bar to around 7.8 bar until the pump kicks in again. This variation should be negligible in terms of pick-up performance.
We could do something similar with a vacuum vessel, have a higher flow vacuum pump, a vacuum 'storage' vessel, and run it with a 3:12s duty cycle, but there are problems with this. We would need a much higher flow rate (and cost) pump. Vacuum vessels can have at most 1 atmosphere of pressure differential, in practice much less, so a 100l tank could never 'store' more than 100l of vacuum, and a 0.3bar (10"Hg) vacuum vessel would need to be around 2500 litres in size, to have a similar pressure variation over the duty cycle as with a 100l compressed air solution. Flow rate is affected significantly by current pressure in the storage vessel:
In summary, almost all of the vacuum based pick and place machines I've worked on have used venturi generators. Vacuum pumps always have to be sized according to maximum required vacuum, assuming no storage, whereas compressed air systems can usually be sized based on average use.
If you need constant vacuum, pumps may be better, but if demand varies significantly from second to second, as it probably does in a pick and place machine, venturi may be a better fit.