The current has some limits, but with enough copper you can probably put some serious amperage on it, and a superconductive magnet in "persistent mode" can apparently keep going for months. Not sure how I'd feel about several MWh in a single circuit though.
Issue with flywheels tends to be containment when they explode, flashing a MWh of metal due to containment failure I would hope to be safer.
Additionally a superconductor wouldnt have gyroscopic forces to worry about.
1MWh is almost 1 ton of TNT. If you have that energy in a flywheel or in a electric circuit and something goes wrong, you need containment in both cases.
If the circuit losses superconductivity and a part overheats, it will release 1MWh in a very short time, that will cause an explosion.
You should look up what happened at Cern when they had a superconductor meltdown. And that one wasn't even a burst of power it was a continuous current (admittedly one with enough to power a small city).
Of course anything with that much energy is possibly violent, but at least a flywheel is easy to control. I haven't the faintest idea what that amount of electromagnetic energy would do, I'm not sure I want to find out.
At the very least I suspect you'll find that electromagnetic current also has angular momentum at those scales.