The main divide I've observed is whether you are encouraged to use JavaScript's built-in control flow and code reuse mechanisms or a less expressive DSL.

Hooks are pretty sweet but I think they should have launched with higher order hooks that used the same lifecycle as original React. That way you wouldn't need to think too hard about things like object identity (which I think is the state management issue you're getting at -- it wasn't a huge issue in the pre hook days)