Welcome to the forums Glen.
I dunno if it is still the case with all the modern materials that are available but both cellulose and shellac are old tried and tested methods.
To say one is better than the other is wrong, they both have their applications and benefits. It used to be a rule that cellulose could not be applied on top of shellac or oils based paints but could be vice versa.
Thin cellulose 50/50 with cellulose thinners to make a sealant and increase the thinners as coats are applied to built a hard wearing shine allowing time to dry between coats and overnight before sanding.
Benefit, if all goes wrong or a fly settles and sticks it can be removed and reactivated with more thinners.
This method has been used on cars for many a long year and we have adopted it in our woodworking.
Shellac thinned with methylated spirits and applied with the same method has the same benefits both giving a different finish with shellac used traditionally on wood and mainly in the furniture industry.
Drawback of shellac is it chips easily and doesn't like to much moisture, hence indoor use in the main.
For our purposes either, in half and half proportions make excellent sealers and can be safely over coated and sanded after no more than a few minutes of application.
Experiment yourself and see which you prefer, any good decorating supplier will have different grades of shellac, maybe in dry flake but definitely in button polish and French polish grades.
Go to a motor factors or paint supplier for your cellulose and thinners.
That is my understanding in laymen's terms hope it helps.
Mind you I could be wrong and have been before, I do know the finishing industry has come a long way since I was involved in it, they still had lead in paints when I was doing it.