This isn't a simple yes or no question, Is it better at what?
Does it have more surface area than bio balls per equal volumes? Yes
Does it de-gas water as well as bio balls? I seroiusly doubt it.
Does it easily clog with debris? Yes, bio balls don't.
In my opinion, after many years of learning thru trial and error, Bio balls overall are the best media in wet dry type filters. They don'thave the greatest amount of surface area when compaired to other medias but the trade off is that they dont trap dirt very well and they de gass water very well. A biological filter media that traps dirt efficiantly need to be cleaned often. This is a situation you don't want, it could very easily cause water quality fluxuations from disturbing the benificial bacteria. Also it could be alot of work to perform. A simple sponge filter probably has more surface area than an equal volume of bio balls but people don't use them (or shouldn't be) as biological filters because the clog easily. I'm sure that there are many opinions out there, this has been my findings.
Joel