Except 0.6% vs. 0% is a huge difference. For example, on Mars you have the option of making rocket fuel from the atmosphere or compressing and scrubbing it slightly for use in greenhouses. Not possible on the moon without basically baking rocks. Mars also gives you the option of aerobraking to shed velocity when landing, which is a big saver on fuel for delta-v requirements. And even though it's nowhere near as good as Earth's atmosphere for blocking harmful radiation, it's still way better than the moon.

On the other hand, the moon has a lot going for it for manufacturing. It's at the top of Earth's gravity well and has low gravity itself without being microgravity. That lets you move massive things around easily and shoot them out of launchers to get back to earth without all the problems that come with "zero-g" conditions. It's also a lot closer to the sun than Mars is, so solar panels give you up to 50% more power for the same area. You also don't have to contend with dust storms (though moonquakes could be an issue).