it's a system that probably got most attention during the waves signature campaign.
Unlike regular campaigns, in this system, members don't get paid by fixed rates or pay per post rates.
There is a total budget for the campaign (which should be mentioned in the thread somewhere) and users get paid distinct shares of that total budget.
If you have X stakes, your payment would be: (total budget)*(personal stakes/total stakes).
E.g. having 10 stakes in a 5BTC campaign with a total size of 1000 stakes would give you 5BTC*(10/1000)=0.05BTC.

There's no definite answer what is better or worse, it always depends on the individual campaign.