The Prismatech does more damage in exchange for not inflicting any status effects. The status effect Alchemers tend to be more useful because the status effects are helpful against monsters that aren't weak against elemental damage.
It is important to understand that status effects are separate from damage type. It is easiest to explain with an example. A Cryo Knight is immune to shock and is a member of the Construct monster family. Contructs are weak against elemental damage so a Cryo Knight will take extra damage from a Cryotech Alchemer but it won't get frozen.
Well, the different effects all have different purposes. Fire does more damage, but shock also stops enemies for a brief moment when it triggers. And then freeze completely stops them for the duration, then deals more damage when the ice breaks. As for prismatech, I'm really not sure. Its all really up to your playstyle. I dunno how the prismatech works.