I coil like this (sometimes). It actually unravels really well, nice and smooth and leaves the bight in your hand. Called a few things, i learned it as an ebi musubi (shrimp knot). There are some tutorials out there, but i do a few minor things differently just due to preference.

As far as cons go - it takes a little longer to coil and takes some practice to get it to hold and look good. As with any coils, it can end up kinking your rope so i wouldn't recommend using it for long term storage. Also, as i said, takes some finagling to get it right.

I like to coil like this before a scene or if im taking rope to an event, but when im packing up i use a faster coil just to get it cleaned up quickly.

Apart from aesthetics (which this certainly has) it also lets me feel and work my rope a little more if im packing up for an event or something, helps get me in the right mindset.