Are more LED channels better?

Not necessarily.

Adding more channels always comes at a cost. This approach may offer a larger gamut (e.g., royal blue, or photo-red at 660 nm). But the solution will optimize for maximum gamut, and the total output of white light (for the rated power of the fixture) will be inherently lower. Other issues include system complexity and cost, driver complexity – as well as the difficulty of mixing light, fine tuning colors, and achieving consistent color point control. However, an IntelliHue solution can deliver high-quality tunable white and dynamic color light in one system – all while maximizing output and eliminating these issues.

You can see some of the benefits of IntelliHue.