XLR is generally for microphones, TRS is typically used for line level and instruments (hi-z)
They're basically interchangeable. But yeah TRS is more compact and more normative when there is no preamp. Some monitors I've seen have xlr inputs though, even though they expect line level input.
Another option is to just use XLR/TRS combo jacks if you want to support both, but that’s not really any different than the user using an XLR to TRS cord or converter
XLR and combo XLR/TRS tend to be significantly pricier, which matters since there are 14x in the BOM.