Monadic error handling (such as Rust's) is a good compromise because it allows you to handle errors precisely when you want to _and_ bubble them up with minor boilerplate when you don't. You can even add context without unwrapping the whole thing.

That's why it's often considered one of the better approaches: it has both the "errors as values" benefits (encoding errors in the type system) and avoids many of its problems (verbosity when you just want to bubble up).