Is Uniswap V3 better than v2?

Could you please elaborate on why some people believe that Uniswap V3 surpasses its predecessor, V2? What specific improvements or advantages does V3 offer that make it a more attractive option for traders and users alike? Are there any potential drawbacks or limitations that we should be aware of when considering the transition to V3? Your insights would be greatly appreciated in helping us understand the benefits and trade-offs of this upgrade.