Plus when the trailer falls apart, which they all do because they're built like crap, you can just replace it independent of the pickup.
But fifth wheel is an overkill for most:
For most of them you need F-250/350 instead of F-150. F-250 doesn’t drive as nice as F-150 when unloaded. Preferably you need long bed (not to hit the cab when backing up). With the crew cab this is the longest truck possible. Modern diesels are expensive to run and maintain, 7.3L Godzilla just shipped, you want to give it couple years to get proven...
Then fifth wheel is harder to hitch up and you loose huge portion of bed space. Also bed is nearly impossible to access when hitched up.
Basically, unless you really need the space, go with 25-30ft trailer and F-150 (with 6 1/2ft bed of course, not this short nonsense).
It's debatable whether the truck+trailer is easier to manage than the RV + small car. Though since we tend to take the RV to state parks and such where we don't need to drive after we park, we rarely take the car.
A fifth-wheel is easy to backup when needed. A coach with a flat-tow car attached can't back up at all.
And as long as you have enough truck for the size fifth-wheel you have they tow much better in wind and handle curvy roads well.
But as you say, different use cases for different people - if you already have or want a truck (or other tow vehicle), a towed RV makes a lot more sense. But I don't want a daily driver that's large enough to be a tow vehicle and it makes no sense to buy a tow vehicle that's only used for towing.
I can tell you its really nice having the RV be usable down the road for the bathroom and the space.
I tow a 4 door Jeep which is actually much better for getting around and exploring once we are at our destination than a full size truck due it its smaller size and off-road capability.
The sprinter type campervan setups are a little more practical but obviously trade for space.