Ratchet buckles remain a solid choice, especially on mid-range road and mountain bike shoes. They give you micro-adjustability in small increments, so you can dial in a secure fit without overtightening—just click the buckle to tighten, and flip the lever to release. They're mechanical and straightforward, which many riders appreciate for reliability and ease of maintenance.
Compared to BOA dials, ratchet buckles are slightly heavier and don't distribute pressure quite as evenly across the top of your foot. However, they're also typically more affordable and less prone to accidental release in rough terrain, which makes them popular for mountain biking. They won't match the quick-release convenience of pulling up a BOA dial, but they're far from outdated.
A ratchet buckle setup makes the most sense if you want adjustable, secure retention without paying the premium for a dial system. They're commonly paired with a Velcro strap lower on the shoe for a two-zone fit that works well for recreational riders and racers on a budget.