I have a Pixel 7 and don't feel like I'm missing out by not having the Pro (I have had Pixel devices since the 2XL). It all depends on whether you want a larger screen (I think the 7 is already plenty large), and a telephoto lens. The processor is the same in both, and battery life is decent in both as well. $8 a month doesn't SEEM like much, but over a year it's almost $100. So you have to ask if those things are worth it to you or not. I have a Dbrand Skin on mine to make it pop a bit over the black.
Overall, I think you'll be more than happy with the 7.
They're separate because Waze has a reputation of giving more "aggressive" routing, and has a social aspect to it. Stuff that really doesn't belong in Google Maps.