Selecting a "cheap" design, that cuts lots of corners, means that you end up with a design that "may" work. It may "look" like it works, except that in real life, the probability of big problems exists.

RC designs often fails when you have a power glitch or the power button bounces or the PSU have slow ramp-up or ramp-down of the voltage. A design that contains flash memory is extremely sensitive to a lost or incorrect reset, or to getting slow voltage ramps while the reset signal isn't held - it's very easy to get corrupt memory content.

A 3-pin reset chip is a cheap investment to get a well-working product that you can trust reasonably well.

Unless the processors happens to have special hardware on the inside of the reset pin (and you don't use other chips requiring a reset in your design), you really should not use a RC-based reset. And the chip manufacturers should be shot for publishing RC-based reset circuits. You get a solution where customer A says it always works. And customer B says the unit fails to boot 8 times out of 10. Just because there are some differences to their power supply behaviour that makes one customer almost always getting a "good enough" reset, while customer B almost never gets a "good enough" reset.

It might even work 100 of 100 when tested in a laboratory, just because you had a good PSU, a good power switch and tested in room temperature.