It's vastly better, if only because there are more ham radio users geared up, charged, and ready to listen and reply. Meshtastic is super cool and I have nothing bad to say about it. If my life were on the line, I'd much rather have a cheap Baofeng.
This is the correct answer. I have my license and help with Skywarn when I can in my area, also play around with meshtastic. The fact is that meshtastic is pretty cool, but the ham radio community has been around for a century, is far better organized and entrenched with various services, etc. There is far more trust and reliability there.
I look at it this way; meshtastic is for fun, but ham radio is for real work where results carry more weight.
Meshtastic is also still very much "beta" quality. Unless you spend a bit of time working with it, messing with different radios and antennas, you can end up with a setup that can't get much range at all, negating one of the main features of the mesh.
Though just buying a Baofeng can lead to similar results, as it's not that amazing at reception. In my testing I've only been able to get a good signal within a few hundred meters, which might not be enough to hit an area repeater except in ideal conditions.
Either way, having the knowledge and practice going into an emergency is much more helpful than just the equipment!
