I think that self compassion and self esteem are both really important but for different reasons. Indeed, self compassion seems to be really important when having negative thoughts, when you are feeling down. Self esteem, on the other hand, seems to help build confidence and greater ambitions. So, to put it simply, I think that self compassion is crucial in order to avoid "drowning" in negative thoughts while self esteem can help you achieve great things in life. They are both really important but just not for the same reasons.