I have been looking everywhere to find a decent explanation for this, and they all come short...When do you use the @api_view decorator rather than a class based view wi
REST Framework aside, it's the same question of when to use class based views versus function based views in general. CBVs in Django are awesome, flexible and save loads of boilerplate code, but sometimes it's just faster, easier and clearer to use a function based view. Think about it with the same approach you'd take to writing a normal view in Django. REST Framework simply supports both methods of writing view code as it introduces in the tutorial.
Generally go with a CBV unless it's getting in your way, then keep it simple with a function based view and the decorator. In both Django and the REST Framework, the logic for typical things like lists, pagination and CRUD operations is already written and easily extendable in the form of classes and mixins. If your view logic is doing something notably different, a function based view might be appropriate. And of course you can use both approaches in your app.