Are figure-8 straps better than traditional lasso straps?

It depends on the lift. Across the reviewers we read, figure-8 straps lock you to the bar more securely and are faster to set up, which is why strongman and heavy-deadlift lifters favor them. The trade-off, repeatedly raised in r/workout and r/GYM discussions, is that you can't bail from the bar quickly, so they're a poor match for Olympic lifts or anything where you might need to drop the weight. Traditional lasso straps are more versatile day-to-day.