They have the same number of characters, but the second sequence should be much more difficult to crack. Or a I looking at it wrongly?
No, you're absolutely right. Given two passphrases of the same length, then random characters (including lower and uppercase letters, numbers, and symbols) will have significantly more entropy than individual words. Two words would have around 150,000
2 = 34 bits of entropy, whereas 10 random characters would have around 95
10 = 65 bits.
The difference comes because such passphrases are rarely of the same length. 8 words might have around 40-50 characters in total, but very few people would use a passphrase of 50 random characters. To achieve a passphrase of >128 bits of security, you would need 20 random characters or 8 random words. Given the two following passphrases then:
.ujG&Yb!zVs[E`qS8\7@
wrong spoil drawing bottle underline ear dictate division
Most people will find it easier to remember (even although you shouldn't), write down, back up, and re-enter the words rather than the random characters.