It is! ... if it's unbroken, sorted by type, and in a place where there's demand for it.
Unfortunately, those advantages are often compromised by the recycling pipeline itself. Bottles of different types are thrown into trucks, and become unsafe shards of glass that are unsafe to handle and difficult to sort by type. It quickly becomes more trouble than it is worth given that the alternative is sand.
Recycled aluminum is much less energy intensive than new aluminum even with contaminants.
But transport and sorting (glass is hard and sharp) eat into that margin, so presort
I know that in some places they standardize the glass beer bottles to one or two types and strongly encourage people to bring the bottles back to the same location that they get beer from.
This results in a circular supply chain that sees bottles sterilized and reused many times. The number I heard was an average of 8 uses on average before a bottle gets a chip in it that renders it unsuitable for reuse, and then it is recycled.
It seems to me that this tight distribution loop is a key part of successful reuse and recycling endeavours.
In the US we throw everything into a truck and we expect recyclers to sort and re-melt a bunch of broken shards of assorted glass.