In my experience, Waze is more about the perception of progress - it optimizes for reducing the amount of time you are _waiting_, sometimes at the expense of _progress_.
In NYC, it often makes absurd suggestions - I once got in an uber on 33rd and 2nd trying to get to penn station on 31st and 7th avenue. Far and away the most straightforward path is to head west on 31st street all the way to 7th avenue, but there's always a backup between 5th ave and 7th avenue - but that's still the fastest route. Waze directed the uber to head north on 3rd avenue to 39th street, head west, make a left on 5th avenue, then make a right on 35th, then make a left on 7th. It took twice as long, but we were always moving - it just wasn't taking into account how long it can take to make a turn on nyc streets.
I'm guessing it's a preference setting at this point, Waze was acquired long ago and they should have the same information to pick a route.
Waze seems more willing to save time even if the path gets more complicated. Maps on the other hand even exposes a "greener" path that minimizes fuel when it won't cost too much time.