The purpose of
dequeueReusableCellWithIdentifier is to use less memory. If the screen can fit 4 or 5 table cells, then with reuse you only need to have 4 or 5 table cells allocated in memory even if the table has 1000 entries.
In the second way there is no reuse. There is no advantage in the second way over just using an array of table cells. If your table has 1000 entries then you will have 1000 cells allocated in memory. If you are going to do that you would put them in an array and just index the array with the row number and return the cell. For small tables with fixed cells that may be an reasonable solution, for dynamic or large tables it is not a good idea.