I'm not sure that there's any advantage of running rope through the channel versus webbing.
But for adding a structural ridgeline, I think it works out better with the rope tied to the ring buckles. Doing ringbuckles with straps through the channel would be awkward, I'd think.
I would imagine that you've seen people use webbing that was tied AROUND a gathered-end hammock . . . not through channel. But maybe I'm wrong.
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