Both trapeziectomy surgery (taking out the small bone at the base of the thumb), and joint replacement are excellent for improving pain related to osteoarthritis of the thumb carpometacarpal joint.
A group from King's College London recently looked at comparative studies which presented outcomes after both operations. They found 14 such studies and pooled the data from all of them. They found that early function scores and pinch strength was better in the joint replacement group. Pain scores were similar. Joint replacement had a higher rate of requiring further surgery, and higher rates of complications. These findings are now used to help patients understand which of the options might be better for them, when choosing an operation for thumb pain.
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ref: Raj 2021 Eur J Orthop Surg Traumatol - Trapeziectomy versus joint replacement for first carpometacarpal (CMC1) joint osteoarthritis: a systematic review and meta-analysis.