The bowline has other advantages. It's also much faster to tie than a figure-8 follow-through, for example. I imagine it takes less rope, too.
We use the bowline (without backup) in industry. I've never heard of anyone having an issue with it. Any equipment is dangerous if you set it up halfway, walk away, and forget to finish. That's why you never do anything halfway. That failure mode is not specific to knots, or any particular knot.
Interestingly, the bowline and the cat's claw are the same knot, but the cat's claw uses two rope ends rather than one and it's very simple to tie, unlike the tricky bowline.
The only real advantage it has over a double figure 8 is that it's easier to untie after dynamic cinching.
https://rockandice.com/climb-safe/climb-safe-rethinking-the-...