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If the average DM is going to ignore the restrictions on the bag of holding then the portable hole probably isn't very useful.
If they are going to actually use the rules presented then the PH can be superior for holding non-combat items because there is no weight limit, just a volume limit.
You have a 6 foot wide 10 foot deep cylinder that you can literally put anything into within those dimensions. You can wall it up, put shelves in it, or whatever organizational tool you prefer (as long as you are sure to come up for air occasionally).
It is a mass storage device, nothing more. Probably fairly useless if your DM is ignoring the restrictions on the bags of holding but otherwise a very nice item for carrying home very nearly anything you find in the dungeon.