Thanks for your input guys! Yeah I had heard that the hammock has some rust issues, so I'll stick to the log.
It's not really a must to have floating plants and such, but bettas do like to rest especially at night and this makes it easier for them to relax and be close to their oxygen source. Just a nice way to spoil your betta.
Personally, I want a floating place for Toki to sleep because every night he'll either lie down flat on the bottom of his tank or lie on his side and float on the surface-- he gives me a heart attack every time and he looks completely dead! If he's in his log I'll know he's sleeping and probably not dead lol.