There is no inherently 'better'! Consider the fact you change the aspect ratio of the shot when you make a print, so you crop off the 'extra' to get to the new aspect ratio. And each time you make a print at a different size, you change to a different new aspect ratio!
1.25:1 (5 x 4", 10 x 8", 20 x 16")
1.27:1 (14 x 11")
1.4:1 (7 x 5")
1.46:1 (19 x 13")
1.5:1 (6 x 4", 12 x 8")
In the film days, certain film formats claimed to be 'better' because less negative was 'trimmed off' when making a print...you hear the marketing 'Ideal Format' from such claims.
And, no matter what aspect ratio your shot was made in camera, you may well find a much better aspect ratio by trimming down the image and making a custom aspect ratio for the output print. For example, recently I took a shot at 1.5:1, but then I made a 20" x 30" final print...3:1 aspect ratio. Starting with 1.5:1 was better than starting with 5:4 or 4:3, but I had to trim off a lot of image with ANY of the three!
If your goal is to shoot mostly portraits, a camera with near 5:4 aspect ratio is better when your output for a client is 10" x 8" print! Using a 1.5:1 camera like dSLR is less ideally suited to this task. But shooting digital, you are not 'wasting film' like in the old days!