I believe Tom Scott had a video on gif vs jif with good arguments for both. His argument boiled down to what association a person makes when first introduced to the word.
Examples included words like gift (where you say g) and gin (where you say j).
I don’t think there is a correct answer, only an answer. Depending on criteria chosen I can make an argument for either pronunciation.
Bold of you to assume we had hotel money when I was 12