Due to their cramped confines and total lack of defenses, they're no better (usually worse) than an open field battle.
The real clencher for me, though, is that unlike a field battle, you always count as being besieged, so if you lose, everyone dies.
No benefits plus insta-death if defeated equals a terrible place to fight.
I do construct them in chokepoints and man them with a few cheap archers. They work nicely for slowing and whittling down an invading enemy.
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