Depends on what the rwo players actually want.
If you want blood, then for sure, the winner is the last man standing. Blood for the Blood God!
If you want to LEARN and IMPROVE, which will be a better investment of your chess-playing time? Continuing a hopelessly lost game that you can already see how YOU would win if the colors were reversed? Or admitting that you lost THAT one, and playing a new game against a new opponent?
Which is likely to teach you more?
I'm not claiming that playing on a Queen down won't teach you anything. The first time. But playing on a Queen down for the twentieth or for the one-hundred-and-twentieth time isn't likely to teach you very much. Not much marginal utility there.
I have noticed that everyone prefers resigning than playing till the very last move unless your opponent is low on time. But why is it done? What’s the problem of being checkmated on the board? After all, you anyway won’t win after resigning!