I don’t advise my clients one way or the other to obtain a Mexican passport because it is a personal decision.
Being a permanent resident gives you the almost the same rights as a Mexican citizen except mostly for voting, being involved in the political process and owning property in your name along the coast. Not being involved in politics as a visa holder means rfelated to elections etc. You may still raise issues of civil rights, etc.
If you are a Mexican citizen, you can vote, own property along the coast, be involved in politics, and travel with a Mexican passport. Other than these, there are few additional advantages to having Mexican citizenship as opposed to having a temporary or permanent resident visa.
Getting a Mexican passport is not as complicated as it sounds, but it will takes about 8 months. I have processed citizenship for clients. Most of the process is completed at the SRE office in Queretaro for those living in San Miguel de Allende.
(Pictured: Festival with lit tree in front of parroquia in San Miguel de Allende.)