The downside to having pikes is that you can't have any of the other options at the same time. You need to pick one. If you don't face cavalry, having pikes is useless and stops you from having all the other equipment that could actually be useful.
This. People forget that pikes are basically two-handed spears. The only shield you could wear with one is a small, wrist-worn one. You have no tactical flexibility, the pike depends entirely on formation attacks towards the front en masse.
