First of all, snooker is a very precise game, which requires a very precise cueing action. If you try a long table length pot, you will know what i am talking about. To make the shots consistently, one needs a very good cueing action. The tip size is usually very small, like 7mm to 9mm or so. What most snooker players I talked to like a cue that is stiff, which offers them consistent feedback. A good balance also allows good and consistent delivery, and those are more important than low deflection. I think most snooker shots are player more around the center of the cue ball anyway.
Secondly, although the balls are lighter and smaller, the cloth has a heavier nap. I find that the metal ferrule tends to allow more power and spin than a fibre ferrule.
A nice snooker cue is something a player will not part with.
In response to your question, my humble opinion is that the metal ferrule and the ash shaft is preferred by some because of the "feel" and "hit"; rather than its deflection characteristic.
About whether it is more accurate or not, I personally find that some cues with a poor balacne is harder to deliver, and feels more inaccurate to me. I like the hit of metal ferrule on snooker cues, too.
Richard