the only real difference between the receiver hitch and the bumper is generally a receiver style is rated for more weight. The biggest problem with trailers is people overlook the tongue weight, they always try to load as far forward as they can.
I would rather see a truck towing slightly over the rated weight on the bumper with proper tongue weight than have receiver rated at 5k towing 2500lbs with 1500 of it on the tongue, now thats just pure stupid.
My preference is a receiver hands down. Mostly just because 95% of loads ill need to pull are over the bumper ratings. Also being able to switch hitches in seconds is very handy