Team 2 wins, now let's explain.
Team 1's strongest stuff is ninjutsu.
Sasuke's Amaterasu, Enton, Susanoo Arrows can all be taken out with Preta or Deva.
Naruto's chakra arms, Sasuke's projectiles, Bee- all of those use chakra with little to no focus on taijutsu, which means Nagato can absorb most of it.
The only thing I'll say he can't absorb are bijuudamas, but that's where Minato comes in.
Not only can he send back anything with S/T barrier but he has an amount of firepower almost equal to Naruto himself.
Thing is, while Team 2 obviously has defences against Team 1's attacks, Team 1 has nothing to defend itself with against the onslaught Itachi and Minato would wreck upon them.
TLDR
Minato > Naruto
Nagato > Sasuke
Itachi > Bee