Squid game is the game of thrones of it's genre. It's takes every trope of the genre and turns it on its head (simple games, rules, no genius main character to solve all the puzzles) plus it has something important to say. It destroyed the entire concept of money to me.

Alice in Borderlands is the wheel of time of it's genre. Every trope and cliche is present and accounted for. It's the most safe generic battle royal with really bad cg and nothing important to leave with the audience.

There is a huge amount of fans for both and there's no wrong answer on which you like better, but it's not a mystery why squid games blew up and Alice didn't. I just think it's interesting how these two battle royal shows remind me of those two fantasy book series.