Very much depends on what do you mean by "better" and "beat".
Performance? Unless you engine swap or put some serious forced induction, the Supra will always have much higher straight line performance (and mod-for-mod would probably still be well ahead).
Looks? Purely subjective. I like how both cars look, and don't like cosmetic mods.
Track times? Assuming the same driver and tire compound, the Supra has a big power advantage and wider tires stock. Both modded the Supra will probably still out-corner a Twin thanks to more rubber, but it's hard to say as the Twin's lower weight does help, and specific suspension geometries, mods and alignment can have an impact as well. The Twin would be cheaper to mod to the same level, though, so for the same budget the Supra might be behind (except for power).
Street fun? Again subjective, but I would argue that you can't get around 500 extra pounds on the Supra, nor the BMW origins (that used to be a compliment, not any more, though). The Twins excel at driver enjoyment in twisty roads. If you are looking for that shove in the back or winning red light drag races, the Supra will be more fun.
Budget? You got him beat here. Half the price to buy, probably half the price to mod.
Reliability? Tough call, Subaru vs BMW. I'd guess the Twins would be more reliable and cheaper to maintain.
Disclaimer - I never drove a Supra, all impressions on the Supra are based on online reviews and community discussions.