> Yeah, there are reasons to use dynamic linking, but I'm still not sure why dynamic linking gives you better profiling and tracing.

It's not so much that the tracing becomes better, but that it becomes feasible at all. Two specific situations come to mind, both MPI-adjacent. (1) Running a PMPI-based tool on code you can't recompile yourself (e.g., you need a Q clearance to see the source, but not to actually execute it--weird I know, but not that uncommon in the DOE labs.); and (2) running multiple PMPI-based tools simultaneously which are composed at runtime via PnMPI.