I am biased of course, but I really really like py4web -- even compared to web2py.
For two reasons.
One is efficiency. web2py basically at every request reloads everything -- reparses all the code, reloads all the modules, etc. py4web instead loads the modules only at startup, so servicing of each request is much faster -- you get ... 200ms (web2py) compared to 10ms (py4web) time before starting running the code for each request. It can have a big effect on the load of a web server.
Second, py4web uses a traditional structure for loading modules (normal import statements), so that tools like pycharm and vscode have a much easier time offering coding help.
Ok, then there is a third reason, which is a mix of, I find py4web at this point to be more elegant, and I find it comes with several improvements and nice things compared to web2py... it's also more maintained...
Luca