In terms of which is worth more?

Do you think affiliate traffic is worth more to a program or in-house traffic overall?

For me id have to say that in-house traffic is intrinsically worth more to me than affiliate traffic is because once i have it, im able to do pretty much anything that i want with it whereas affiliate traffic can come and go and is very rarely reliable on any given day (with a few exceptions).

What are your thoughts, do you think in-house or affiliate traffic is of more value to a program owner?

Regards,

Lee