I don't think it's a matter of which is "better" it's a matter of what your needs/wants are. Last spring we used both airbnb and hotels depending on what are needs were at different locations. We used an airbnb in Normandy (traveling independently, but in Amsterdam because we were on a RS tour, we extended our stay at the hotel we were staying in. It was a very nice centrally located hotel; a very old hotel but very modern and updated. It was by far the smallest of all of our accommodations throughout a 3 week vacation (part independent/part tour). It was about 450 euro for two people and though the bed was queen equivalent, the room barely was big enough for one person.
I like airbnb's for extra space; laundry, and any other nice amenities. Personally, after our kids became teenagers, we always booked 2 rooms or an apartment or airbnb, because we just don't find being squeezed into a hotel room (even a roomy one) at all enticing with more than 2 people.
I have heard of airbnb's being cancelled randomly, but we've never had a bad experience domestically or internationally. And our airbnb was owned by a local high school teacher in Normandy; so I don't have any guilt about renting it.