Those bunkers look different, and would play different.
Aesthetically, the bunker in the upper picture benefits from having a lip with vegetation that is continued down from the hillside which makes it feel like a natural part of the surroundings. The lip shape also fits in with the hillside behind, creating a natural feel. The sand color also fits in with the other colors. Lastly, it benefits from having actually been in the picture as taken instead of having been added via photoshop.
The lower bunker is too white. It's less intimidating-looking, and for a reason - the lack of all that veg on the top lip would make it an easier bunker to get out of. That veg is so thick, though, that as lovely as it is, it would be incredibly penal if one was to have the misfortune to land a ball in it. The lower bunker would be more appropriate for a course that would host players of more varying levels of ability.
The issue isn't that I necessarily prefer one style of bunker over another, in terms of edging, or even sand color, aesthetically. Obviously, in these particular pictures the bunker in the upper picture wins the day (what with it being original and all). Still, for me, there are courses where the sharp-edged white bunkers have a look that I really like, and from a playability standpoint they don't have all that bushiness that could catch a ball and likely prevent any kind of meaningful recovery shot other than a hack. What I DO like is when a course has a plan that incorporates the surrounding landscape, the vegetation in areas that are not in play, the grassed playing surfaces, and the bunkers and their surrounds into a cohesive whole from both an aesthetic and playability standpoint.