If the designer wants to encourage super-users and quicker access then splaying out all options is better. If they want "clean and tidy", the icon is better.
Heck, even when I have splayed out all the most-important options across the screen... where do I put the /rest/ of the menu options? in an "other" menu, likely drawn with 3 horizontal lines.
its true in many cases, those hold-everything menus end up has junk drawers that users have hard time navigating through, especially on mobile screens where not everything is shown at once AND the scroll indicator is by default hidden so its not obvious there are more items below the screen edge