What are the trade-offs between LPWAN technologies like LoRaWAN or NB-IoT and traditional networking methods for IoT devices?

For long-range, low-power IoT devices, LPWAN technologies like LoRaWAN and NB-IoT seem to be popular, but how do they compare to traditional networking methods like Wi-Fi or Bluetooth? What trade-offs have you encountered in terms of bandwidth, power consumption, or coverage, and when do you decide to go with LPWAN over other options?