bcachefs is meant to be more reliable than btrfs - which has had issues with since it was released (especially in the early days). Though bcachefs has yet to be proven at scale that it can beat btrfs at that.

Bcachefs also supports more features I believe - like encryption. No need for an extra layer below the filesystem to get the benefits of encryption. Much like compression that also happens on both btrfs and bcachefs.

Btrfs also has issues with certain raid configurations, I don’t think it yet has support for raid 5/6 like setup and it has promised that for - um, well maybe a decade already? and I still have not heard any signs of it making any progress on that front. Though bcachefs also still has this on their wishlist - but I see more hope for them getting it before btrfs which seems to have given up on that feature.

Bcachefs also claims to have a cleaner codebase than btrfs.

Though bcachefs is still very new so we will see how true some of its claims will end up being. But if true it does seem like the more interesting filesystem overall.