I really don't mind either format, but a
pokerstars, if you don't knock anyone out, you still might not make your buy-in back, even if you make it into the money. If you barely get into the money, you MUST have knocked someone out to show a profit.
This is the only site that I'm aware of that his this kind of payout structure. In all the other ones, you make a profit (albeit small), no matter where you finish in the money.
A bigger issue for me, is the length of time for late registration. At least, with bounties, you might be able to make some money, before late registration ends, and you're booted.
In regular tournaments, you have to wait well over the late registration period to make some cash....and you might not get there, and have the buy-in loss to show for your time.