Individuals are different, and many of the greats have used the bent/cramped wrist thing and have been OK. Then again, many of the greats died young, so who knows what might have happened eventually.
And yes, it does seem easier to get a strong fat tone using that non-ergonomic form. But with practice, I have been able to get pretty much the same tone and feel with floating thumb and a very light touch.
I switched to using floating thumb when I switched to a 6-string with very wide string spacing. I've kept it because I realize it feels better on my body. 15 years later, I still sometimes revert to the Marcus Miller style of bent wrist because it makes some technical things easier.
But I think the key is to not hold any unnatural posture (or any posture really) unchanged for too long. Our bodies like to be fluid, in motion. Bend your wrist, straighten it, pull with your arm or your fingers, shift your shoulders. I find that within reason, my body is the most comfortable when I am loose enough I continually move around in relation to the bass. I general, remain relaxed, but don't be too rigid about your relaxed posture either.
By the way OP, if you haven't heard Gary Willis actually play, look him up. He is a truly amazing player.
I will check Mr Willis out, I loved what he had to say from a technical standpoint. Any bands he's played with that I'd know?
As for different peoples physiology - I've had a tinker with a couple things from these vids and realised a few things. When I started playing, my teacher said to pull my hand up to wherever was comfortable - no rules as to wrist shape, just what felt natural and comfortable. I think that can serve anyone's physiology quite well.
I agree with what you said about fixed positions. For that reason, and because it feels different, I've made a point of practising standing up. It's those sit-down stints of practising that my arm gets lazy and rests on the bass sometimes.
I think I've been unknowingly using the floating thumb technique for years without realising or analysing it. I tried to do it the way I understood that video but my fingers felt cramped, it felt as though I should be playing rather than muting with my thumb, a lot like my slap position. I think my natural inclination came from playing a five-string for years - I'd rest my thumb on the B to play the E and sometimes A but when playing the higher strings I'd move my thumb to rest on the E or A so my hand had the same shape.
Now I'm on a four-string I start with my thumb on the neck pup, in place of the missing B, and when I move up just rest on the E or A the same way. I just had a play and looked at my wrist and it stayed straight through these movements. I don't know if that's what floating thumb is, but it works for me to mute and maintain hand position.
With the bent wrist thing - I can see the value in it for technical parts, like you said, and I think it will be a handy tool to use sparingly.
As far as tone, what Gary Willis was saying about muting with the playing fingers seems like a technique worth investing some time in. Thanks for your thoughts!