I'd like to make a few comments about a mechanical analysis of trap bar deadlifts, as I'm not sure I entirely agree with the above and see some elements missing from the discussion.
1) In the above analysis, you refer to it as an "inefficient squat." However, if we're suggesting the trap bar puts people in a more squat-like position, then it's going to look more like a 1/3 or 1/4 squat position, correct? Which, mechanically speaking, is actually a very efficient squat, which is why so many people do 1/4 squats in the first place as an ego lift. I assume you mean "efficiency" in terms of stimulus (i.e. a deeper squat is a more meaningful stimulus), but I thought this worth pointing out if we're speaking in terms of a mechanical analysis.
2) I'm not a fan of the phrase "true pull," this is an appeal to some ideal that I think doesn't really exist. By this logic the conventional deadlift is less of a "true pull" than an RDL or SLDL since they emphasize the posterior chain and spinal erector strength even more than a conventional deadlift.
3) I've seen surprisingly little mention of the profound differences between trap bars with low handles (e.g. the original way Al Gerard did them when inventing the bar in the 80's) and the high handles. The high handles are a lot more like a rack pull, and can accommodate a really upright position. I think they're essentially an ego/masturbation exercise, and for whatever reason, is the default way most people envision the lift being done. The low handles have an equivalent ROM to a conventional deadlift, and any analysis needs to keep this in mind. In fact, I would suggest that a meaningful analysis needs to assume the low handles are being used so that we can take ROM out of the equation in terms of meaningful differences. Anecdotally speaking, I have always been weaker in a trap bar from the low handles than a conventional deadlift, and I would suspect a good percentage of people would find the same.
4) I think there are two key differences between trap bars and conventional deadlifts. One of which has been pointed out in this thread, which is that the trap bar is inherently less stable, particularly at lockout, due to lack of contact with the lifter's body. The grip on the handles also require careful centering as any differences from one side to the other can also greatly affect balance. To me the biggest pain in the ass of a trap bar isn't really the lockout per se, but rather the initial pull on the first rep - the handles have a tendency to want to rotate which can easily throw balance off and make the first rep awkward. This is far less of an issue on subsequent reps, but I thought this worth noting.
However, the other factor I think people aren't really considering can be addressed by asking a simple question - what are the differences in mechanics between a barbell deadlift held in the hands and any variation of the squat aside from just the ROM? I would suggest that a good part of the difference is the fact that, by holding the bar in the hands, you introduce a constraint on knee motion due to the system needing to be balanced over the combined center of mass of the barbell/lifter.
A squat, for example, can be done comparatively more or less upright depending on cueing while still observing midfoot balance in either case, even with the same bar position. Obviously anthropometry still heavily factors in, but you can think of it as a range in which you have either more forward knee excursion or less based on how much hip flexion you allow, i.e. more bent over with the knees less forward vs. more upright with the knees more forward.
Why can't we be more or less upright in a barbell deadlift in the same way? Because the bar is held in the hands, more forward knee excursion past a point will quickly displace the barbell ahead of midfoot, violating the CCOM over midfoot rule above. As such, we have far less wiggle room here, and have to be bent over by necessity, shifting emphasis heavily towards the posterior chain. The quads can still contribute, but not nearly to the degree that they can in a squat.
In that sense, the trap bar is a lot more like the squat - because the apparatus isn't being displaced forward of midfoot with our knees going forward, like a squat, we can perform the lift a little more upright or a little more bent over. As others have said, calling the trap bar deadlift "a squat with the bar held in the hands" is reasonably accurate.
So let's do a quick list of pros and cons for trap bar deadlifts based on the above analysis:
Cons:
- Balance issues that can possibly affect both safety and efficacy of the lift.
- If we're trying to create a stimulus for our hip musculature (and lower back), it's less of a contrasting stimulus to the squat, and thus less of a meaningful stimulus to this musculature, than the conventional deadlift.
- Availability and Skill Transfer - we can find a barbell at almost any halfway decent gym on the planet, and use the skill we acquire by conventional deadlifting on said barbell just about anywhere. Trap bars are a lot less common, and even have some variations between models than can affect our skill/setup. I.e. larger or smaller models, handle spacing etc.
Pros:
- Because the knees can be a bit more forward and the lifter a little more upright at the start, it is easier to assume normal lumbar extension in the setup compared to a conventional deadlift. This might be the single biggest advantage for people wanting to still pull from the floor. Probably particularly relevant to older demographics.
- Neutral grips are the strongest position for our grip strength (e.g. farmer's carries), so we can hold the bar symmetrically with very heavy-for-us weights without the thumb assrape that is the hook grip. We could just use straps in the conventional deadlift, of course, but this does weaken the stimulus for grip strength vs. still holding the apparatus/barbell.
- We don't somtimes accidentally scrape our shins. Some people do care about this.
- If for some reason a conventional deadlift is not an option, or not preferred, we don't need to act like the trap bar isn't an option. As I've seen an SS coach note on the forums in the past (Andy I think?), the trap bar deadlift can be incrementally loaded for a long, long time productively much like barbell lifts. I would caution people against the all or nothing mindset of "barbells or nothing" when it's pretty clear that some other tools (e.g. dumbbells, trap bars) still work pretty god damn well, even if they're not quite as efficient or useful as a barbell.