Yeah, I figure about 8 linear inches of weld into 1/8" wall, giving 2 sq.in. of weld, at a really conservative 20,000psi tensile... you're talking 40,000 lbs of pullout. And all of that is not counting the fact that the backside of the bracket will be welded directly to the 1/4" mounting plates for the bumper.
Compare that to a 3.5t DB tow point with a roughly 1x4" footprint using a backing plate from a vendor with the same dimensions. Provides only 1.25 sq.in. of shear plane. If you have 1/4" wall, then you get 2.5 sq.in. Better, but not drastically so.
The weakness of the shackle mounts is the torsional loading that comes in when doing a side pull. But then I cringe when I think about doing a vertical pull on the 3.5t DB jaw, along it's narrow axis.
I like swivel eyes the best, but they're pretty expensive, and hard to get a good mount into a typical bumper. You'd need a massive backing plate, which I don't think most people are doing.