Google Search Console (GSC) is free, and it also shows links to your website. 

So how is Monitor Backlinks (MB) better?

In short, GSC is just a list of some of the backlinks to your site. 

MB gives you the data and system to do basically anything you want for your backlinks and keywords.

Some key differences:

GSC only shows a sample of your links, while MB shows a comprehensive list.
MB shows all your LIVE backlinks, while GSC displays non-live links (ie. links that have been removed from the internet) as well.
Also, by default MB ignores sitewide links to prevent noise. For example: if you have 100 links from one domain, we'll show just one.
MB shows competitors' links - GSC only gives you access to your own links.
MB shows metrics for link quality so that you're able to differentiate between high and low quality links.
MB shows keyword rankings to know how well you are ranking for desirable keywords on Google.
MB shows you regularly updated link status.
MB lets you easily filter your backlinks and create useful reports to identify trends in your backlinks.
MB lets you easily add tags and apply filters to easily create a disavow list to Google.
MB gives automatic email updates when you gain/lose backlinks.
We also offer an option for you to import your backlinks from  Google Search Console, Moz, Majestic or Ahrefs. So you can use MB as a centralized location to see a complete list of information.

You might find this video useful as well:
10 Reasons Why You Need To Use Monitor Backlinks
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