Not exactly a fair comparison...But I will play, The F150 base model may cost less, but do the doors comes off? Does the top come off? Does it come with the beefy Dana 44 axle rear? Does it even come with a straight axle front, much less a new gen Dana 44 front axle? Does it offer a 4:1 transfer case or better?
I've actually been looking into new ones, so I can answer for this.
F150s with smaller engines come with the Ford 8.8 rear, which is similar in strength to a Dana 44, maybe slightly stronger with larger shafts and gears. Many packages, like some towing/payload packages or upgraded engines give you the Ford 9.75 rear, which is often considered to be on the same level as a Dana 60 semi-float rear. Both the 8.8 and 9.75 rears are c-clip axles.
The 2wd and 4wd front suspension is always IFS, like most other trucks in it's class. Not as good at rock crawling, but generally gives significantly improved ride quality. The front axle on f150s is always an 8.8 with CVs for 4WD models.
The transfer cases for 4WD models are made by Borg Warner and has a 2.69 low ratio. You won't find a 4:1 package for the f150. However, the 10 speed automatic comes with a 4.69:1 1st gear. Compared to the 42RLE 1st at 2.84:1 and a 4:1 case, that is deeper overall. The modern Chrysler 8 speed has a 4.71 1st, so a Gladiator will outperform there.
Modern F150s offer gear ratios of 3.15, 3.31, 3.55, and 3.73. You can usually order the deepest ratios independently of the packages in which they are normally included.
The f150 also offers a rear locking axle for not all that much money. The whole FX4 package, which includes the locker, skid plates, different shocks, etc is less than $1,000. The locker can be ordered on any non-FX4 f150, even 2WD models. The locker can be engaged in all transfer case positions on 4WD models (2WD models have no transfer case).
Lariat trims and above also come with an extra transfer case position called 4A, or automatic 4WD. This function uses clutches in the transfer case to send power to the front/rear axles without mechanically locking the transfer case. The system varies clutch pressure based upon detected wheel slippage. Ford says it can be run in any condition, including dry pavement. Supposedly it works better on snow and ice because the front wheels aren't forced to slip relative to the rear wheels.
Front lockers are not available from the factory for the f150, but are available aftermarket, along with upgraded shafts and other components. Suspension lift kits in excess of 6 inches are relatively common, which generally accommodate 37 inch tires.
In my search for what is out there, I did price out my ideal F150 versus an ideal JT Rubicon. The f150 came significantly cheaper and had way more options that I wanted. The biggest draw for me is that the F150 comes in a 4 door (6 seats) with an 8 foot bed, something no other half-ton can do. The JT doesn't even offer a 6.5 foot bed.
Biggest disadvantage was no front locker, but that could easily be added aftermarket.
The F150 comes with six different engine options: 2 naturally aspirated gasoline engines (3.3L V6 and 5.0L V8), 3 turbocharged gasoline engines (2.7L V6 EcoBoost, 3.5L Ecoboost, and 3.5L EcoBoost HO), and one turbocharged diesel among (3.0L Powerstroke). The 5.0, offered on all trims except Raptor, has 395 horsepower. (The 3.5L HO offered on Raptor and Limited has 450 horsepower.) Compare that to the JT which only has one engine option (3.6L V6) with 285 horsepower, which is less than even the weakest engine on the f150 (3.3L V6).
Then there's also the Raptor, which comes with 450 horsepower stock, 13-14 inches of suspension travel, 34 inch tires, and a whole lot of other options. I can't reasonably afford a Raptor though.
Then there's the payload and towing on the F150. With the payload package, F150 payload capacities can go as high as 3,270 lbs. The combination I want would probably be about 3,000 lbs capacity. Maximum payload on a JT is 1,600 lbs with the correct options. A JT Rubicon is only 1,200 lbs. A correctly optioned JT can tow 7,650 lbs, but a correctly optioned F150 can tow 13,200 lbs.
For me, there's just no comparison. For less money, I get much more space in the cabin and bed, capable 4WD, significantly more payload and towing, 110 additional horsepower, the equivalent of a Dana 60 rear, and a whole host of other features. Perhaps I lose the ability to take off the doors and roof, but I already have a TJ. Plus, how many people actually take the time to take a hardtop off the JT?
I think a better comparison would be to a Ford Ranger, as it's a smaller truck in the same class as the JT. However, I'm not quite as familiar with the options and packages that come with the Ranger.
