FWIW, Dyneema webbing would have a much tighter weave than Amsteel Blue and would most likely handle tree bark much better just as the tight weave of our polyester webbing straps do well compared to the loose weave of polyester mule tape.
Polyester webbing is going to be tough to displace as the top tree strap material due to it's reasonably light weight, low stretch, more than adequate strength, resistance to snagging, low cost, ability to work well with hardware and knots and UV resistance.
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