But no matter which effect you use, if you use the same shapes you'll get the

same result. The ONLY difference is in the procedure.

I have been using LPEs for a real project and you are right. I would say that :
- if the skeleton is more important than the shape source itself, you first want to focus on the skeleton and then decorate it with your shape. Use "Pattern along path"
(example : branch of a tree, tentacle ...)

-but if you consider that you want to deform your shape source with a rather simple bend path, use "Bend Path"
(example : deforming a feather, a leaf...)

In my opinion, the two effects should exist, the result can be the same but the procedure and the way of thinking are not.

Steren