Different types of moments of inertia can be better suited to different purposes and situations.
If you wanted to store power in a spinning object, you could store more power in an object with a greater moment of inertia since it would be harder to both start and stop the spinning.
However, for something like a bicycle tire you don’t want it to be hard to spin and to stop spinning. It will be more useful if you just concentrate all the energy into moving forward efficiently.
A disc with more mass toward the center will go faster than a hoop with the mass on the outside.
The disc that is easier to spin wouldn’t be efficient in storing power though.