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Fianchetto fumblings

Fianchetto fumblings

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I have a quandary about the fianchetto. I don't often play it. Probably because I find a 'bog standard' defence falls into place a lot easier. My qualm witht he fianchetto is that I thought it was somehow a superior defence, but have found that the opponent seems to be able to pull it apart with more ease. I have also read somewhere that the bishop involve in a fianchetto is of the same value as a rook. Does this mean that you hypothetically gain material advantage by 'promoting' your biship in a fianchetto, or does it mean that if you lose the bishop, then it is the equivalent of losing a rook, tactically, in the defensive advantage loss.