Thrusters can be better than squats, but the same is true in the reverse depending on the criteria. For example, squats are better for improving lower body strength, predominantly in your quadriceps and glutes, because it’s generally possible to squat a much heavier weight than you can perform a thruster with. Likewise, thrusters require cycling reps quickly and rely on explosiveness to propel the kettlebell, or other free weight, into the overhead position. In this regard, thrusters are better than squats because they build more explosive power and provide more cardio benefits than the squat can. The squat is deliberate, prioritizing strength, while the thruster is swift, prioritizing power. Which one is best depends entirely on your personal fitness goals.