Edit: Yes, I obviously understand there's an energy release, but is finding yet another way to burn more oil and get carbon into the atmosphere really what we need at this point in time?
Second, done properly (insert a lot of observations about combustion temperature here), it ends up as nothing worse than CO2, nitrogen, water, etc at the exhaust stack. Given how horribly bioreactive plastics tend to be, and their tendency to erode into microplastics given half an opportunity, this is roughly the "Flare the methane to CO2 because it's far less bad" end of plastic compared to burying it, which, at some point in the future, stands good odds of being uncovered - perhaps by a group that doesn't understand just how nasty the stuff really is.
If your takeaway is "There don't sound like any great ways to deal with plastic," good. Because there aren't.
Plastics are a material with no effective bio-degredation process so we should destroy it rather than return it to the environment. Otherwise we're just delaying cleanup.
Incineration destroys these unnatural carbon chains and returns the materials to a state usable by natural life.
It's one of those rare win/win things, with no downsides. Of course people won't do it because you have to "recycle" it - which is worse for the environment, but it's an emotional thing, so don't expect people to listen to reason.
Except for the important way, which is corporate profits.
I think that both forms of sequestration (sequestering gaseous CO2 (or a solid-stabilized form of it) vs sequestering plastic) are worse than not drilling the oil to begin with, but better than letting the CO2 end up in the air.
You can do the same thing by grinding basalt and spreading it on fields, which... given that I live on a pile of basalt, might be useful eventually. I keep collecting the stuff to make a greenhouse with, though.
It may be better than leaving it in the air, but given all the other biological activity of plastic, I'd really rather we not use the stuff in the first place at this point.
The bacteria will spread like wildfire: the environment is lush with micro-plastics. Things will evolve from there. Perhaps in the future, natural bacterial gene transfers will create plastic-consuming termites.
https://microbewiki.kenyon.edu/index.php/Plastic-eating_Bact...
https://e360.yale.edu/digest/bugs-are-evolving-to-eat-plasti...
Oh, heck, turns out there are plastic-eating caterpillars!
https://www.theatlantic.com/science/archive/2017/04/the-very...
In the dystopian future, we no longer have plastics because it just gets eaten, as useful as building homes from gingerbread.