When comparing w3m vs Lynx, the Slant community recommends w3m for most people. In the question“What are the best web browsers that run in a terminal?” w3m is ranked 1st while Lynx is ranked 2nd. The most important reason people chose w3m is:
Although w3m is primarily a text-based web browser which runs inside the terminal, it supports and renders several elements which other terminal-based browsers cannot like images, tables, tabs or frames.
Specs
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Pros
Pro Support for several elements not found in terminal browsers
Although w3m is primarily a text-based web browser which runs inside the terminal, it supports and renders several elements which other terminal-based browsers cannot like images, tables, tabs or frames.
Pro Available as emacs plugin
W3m can also be downloaded as an emacs plugins to be used as a fast web browser that runs inside emacs.
Pro Oldest web-browser still in general use
Lynx was first released in 1992. Using it is one of the best hands-on ways to understand the history of the Web.
Pro Lightweight and lower ram usage than Chrome
Chrome uses like 600+MB of ram just for facebook and an adblocker and idm extension, but lynx runs on command so it's a lot better if you want results quickly.
Pro Still under active development
Lynx offers surprising compatibility with current WWW standards, including SSL/TLS.
Pro Naturally well-suited to accessibility tools
Being a text-based browser, Lynx is easy to operate using text-to-speech or Braille tools for visually-impaired users.
Cons
Con Steep learning curve
Being a terminal web browser w3m has a certain learning curve because you need to learn the keystrokes and different commands.