They cost less to buy, insure, drive and maintain. Those are their advantages.
I drove a 4.3l for a year, mix of hwy/city, 4wd and not, towing frequently and averaged 17.4 mpg for the year. I've driven two years since with identically configured 5.3s and got 16mpg even both years. (I just drive, don't try for mpg) I drive about 20k miles per year, that would be 1149 gallons per year with the 4.3l, 1250 gallons with the 5.3.
The national average price for gas today is $2.38, so that's $240/year saved on fuel, $1200 over the life of a 5 year loan.
If a person can get the 4.3l $2500 cheaper due to less demand for 4.3s and $900 difference in retail cost we're up to $3700 savings over 5 year period.
I think my insurance difference was around $100-$150 a year so tack another $500 on that.
I don't know what maintenance differences are, only owned it a year and paid no maintenance.
However; I truly believe a person can save $4000 easily with a 4.3l, and I bet a person willing to walk away from dealers can save even more.
Whether $1000/year over five years means anything to you depends on the depth of your pockets.
There's another concept in play here though:
I honestly don't care about amounts of money like $1000 a year. Nonetheless, when the house we bought last summer only had cable jacks in the rec room and three season porch, we decided to "cut the cord" and try streaming Playstation Vue + HBO Now + Netflix for tv and use Ooma VOIP for our landline. Saves me $120 a month and the product delivered is comparable enough I don't care so we stuck with it. I look at the that $1000 a year I saved as my teenager's car insurance or$1000 I can blow on something else like a long weekend cabin rental..
That's kind of how I looked at the 4.3: It towed my 3000lb fishing boat easily, was about as fast as the 2010 5.3 I traded in for it. I've bought two 5.3s since because I like to drive fairly new cars and got good deals on them, but I definitely don't look down on the Ecotec3 4.3l.
It's better than the old 4.8l V8 and close to the old 5.3L. No shame in that, and more disposable is always welcome. Towing capacity they don't need and 7/10 of a second quicker 0-60 might not be worth that $1000 a year to some people.