Model accuracy or Model performance? Which one will you prefer and why?

This is a trick question, one should first get a clear idea, what is Model Performance? If Performance means speed, then it depends upon the nature of the application, any application related to the real-time scenario will need high speed as an important feature. Example: The best of Search Results will lose its virtue if the Query results do not appear fast.

If Performance is hinted at Why Accuracy is not the most important virtue – For any imbalanced data set, more than Accuracy, it will be an F1 score than will explain the business case and in case data is imbalanced, then Precision and Recall will be more important than rest.