We're talking about the faux-leather plastic tape with a non-porous surface, right?
For me it checks off all the boxes:
It looks good (IMO), lots of color choices.
It feels good--it grips pretty well, and provides some padding. I also like the slight extra thickness of the handlebar.
Easy to apply, and cleans up well.
Quite durable, it can last for years if you don't get in an accident. Still looks good even when old and used.
Used to be pretty cheap.