You don’t have to buy “peach/pink” to find unwaxed butcher paper. Personally I think it’s a gimmick to charge you more as most don’t know the white and other colors come unwaxed too. Unwaxed is what you want in any color.
Personally I like paper for brisket and butts and foil for ribs. BUT, big but there see what I did lol. If you like bark don’t wrap or find a median of when to wrap. Meaning the later the wrap the more bark. Wrap to me regardless of which steams the meat softening the bark.. Paper is breathable where foil isn’t so your bark shouldn’t get as soft.
I use pink butcher paper for brisket cooks. I got the idea from an Aaron Franklin instructional video. I find it keeps the bark firm and intact. I also think it lets steam escape so your brisket roasts and doesn't steam. I continue to use foil for rib cooks.
Thank you all for your input. I just got my Traeger and my first cook is gonna be pulled pork this Saturday. I’m kinda in between having the moisture held in with the foil, and having the bark texture using the paper. I might get 2 shoulders and try one of each and compare with similar cook times.