Actually many vehicles use a very similar system, the front wheel bearings on my truck are Timken-style bearings just like my trailers. I think the main problem with many trailers is poor assembly practices of the wheel bearings, and poor quality parts.
Many people propose pulling trailer wheel bearings every year, which I consider silly. I never do it with my vehicles and am not going to do it with the trailer. Of course the main thing is making sure the wheel bearings are set correctly and have sufficient grease when new. Sadly this is not necessarily something you can rely on with a new trailer.