Well, firstly, let me say that a piece of fatwood with a ferrocerium rod insert, or a ferro rod and some fatwood on the same piece of cord, or similar, is superior to the mag bars with the ferro rod inserts.
Anyway, as to the advantages of a mag bar type firestarter over a disposable lighter:
1) Waterproof – you could literally take one that has been submerged in water, and get it working within a second or two.
2) Fireproof – just to give you an idea of how fireproof a ferro rod is, I like to remove the plastic handles from my Swedish Firesteels by laying them on a trioxane bar, lighting it up, and melting the plastic handle off. No harm done.
3) Windproof – they will throw hot sparks just as well, no matter how windy it is.
4) Coldproof – they work just fine waaaay below zero degrees Fahrenheit.
5) Shockproof – you could throw it in the air, and it is likely not to break when it lands... but if it does, it does not impair function at all.
6) Longer lasting – you could get many (thousands) of fires going with it.
7) Hotter – the sparks, and the magnesium, are much hotter than a butane lighter's flame.
8) First-stage tinder is built-in.
However, be aware that they are not as easy to use, and may require learning how, and practicing, before you have to rely on it in an emergency.
Mike