There are positives, and negatives to each design.
Having to use a chain, requires a "tensioner" and knowing it is metal - a means to keep it from seizing. There is also the issues around debris and wear of the tooth and cog as well as the link and spindle - which requires the tensioner and it's means to keep proper tension can make the engine quite heavy and also have a secondary "gyroscope effect of "creep" and torque when the motor idles and spins up - although minor effects in themselves - the overall level of torque can cause the motor to twist on the motor mounts and or exhibit excessive wear and "slop" which can overrun the tensioner and guides and create even more of a mess than a snapped belt.
Toyota used chains in their 4-cylinder motors VVT-i and I had no issues except for a considerable noise in the latter years of mileage caused by the tensioner running out of "room" and developing a condition of its slider (where the tensioner rests against the chain) it's made of a special material much like Teflon which helps keep the chain flexible in the links and because of its wear properties "squared" against the gearing. But as the tensioner wears down the develops a slop that a spring and notch system works to take up the slack - but the slider itself only has a limited life or cycle of Mean Time Between Failures MTBF. Kinda like Chalk for a Blackboard, harmless to the Slate but in itself wears down and leaves residue...
Chevy uses Timing Chains in specific motors are not too high in RPM (at least for everyday commuter use) while some other makers - their motors use a Gear-to-Gear mesh system that skips the timing chains or belts completely acting like a transmission gearing system instead.
So then along comes the Belt - which is cheaper and lighter in weight and depending on application - more economical for both the maker and consumer being of a flexible material also can make it quieter and can absorb some abuse and the engine can still operate.
Pretty much all Automakers have used belts in their engines at one time or another for the simplicity of maintenance so Ford in not unique.
But one small aspect many don't think about - is the Piston to Valve clearance.
If the belt snaps off - the cam stops turning and the pistons don't stop on a dime. There is nothing to maintain the valve to piston clearance and timing aspect - it means the valve and the piston are going to meet.
So in some - they "notch" or offset the valve by grooving the piston head to clear the valves "flare" or flute - they call this non-interference.
Others also increase the distance in the cylinder head the valve lifts and seats into - so the combustion chamber space is the clearance. Also known as non-interference.
But then there are some motors out there - I've owned several - that if you don't take care of the belt at the required interval - they are NOT all the same
NON-Interference - in fact they are considered
INTERFERENCE engines - where the Valve train can strike the pistons' head and damage will result.
This post is not just for us at this moment in time, this is for those that may come across this article at a later time and need to know what we're talking about - so you know what could happen - others might not ... so this is a cover the bases moment.
There's a plethora of engines listed at this link that are made by the Automakers -by size and if they are Interference or Non-Interference motors.
http://yourcarangel.com/2014/07/interference-engines-complete-list/#:~:text=An interference engine is one that has insufficient,with a non-interference engine. It pays to know.