Phishing pushes a lure at the target. Baiting leaves something the target chooses to pick up, such as a USB drive, a free download or a gift-card offer, so the victim initiates the compromise themselves. That voluntary step is what makes baiting hard to train against.
Phishing requires the attacker to reach an inbox and survive a filter. Baiting skips both. Nothing arrives, so nothing can be scanned. The attacker relies on curiosity, or on the appearance of a legitimate free item, and the victim performs the action that grants access.
Baiting is also often physical, which puts it outside every email and network control an organisation owns.