There are two basic types of nickel plating- bright nickel and electroless nickel. Zinc or manganese phosphate are conversion coatings. Either type of nickel plating will provide excellent corrosion protection, but zinc/manganese phosphate coatings do not provide much corrosion protection. Zn/Mn phosphate are very inexpensive processes and are readily adaptable with high production rates. Bright nickel is a bit less expensive than electroless nickel, but electroless nickel has the desirable characteristic of providing a very uniform coating thickness on the substrate surface, which is critical for many engineering applications.
For the application described in the last post, I would estimate that electroless nickel could easily cost 30x more per part vs zinc phosphate.