Must admit I'm somewhat suprised that this isn't more settled?
From what I've read/heard (or think i've read/heard!)
crimping is generally more secure/stronger grip (ignoring things like pockets, something blocking your knuckles, or where you physically don't have the reach to crimp a hold and are on by your fingertips etc)
- Thumb is stablizing fingers
- grip strength is increased at that (crimp) angle
- for small sharp holds you are actually increasing the surface area of skin on the hold
- for people with short pinky fingers it lets you get your pinky onto the hold
I used to crimp absolutely everything when I started and it was really holding me back. Spent a year specifically climbing everything open handed no matter how hard it made it, and now my open hand is actually stronger than the crimp grip (if I'm hanging on the same hold on the fingerboard). There are still fingertip things on slabs that I have to crimp no matter what, and then it seems more a function of getting more of your finger actually in contact with the hold
Just my 2p