I am with the majority: a biscuit jointer is the way to go, if you can get access to one. They are not equivalents for each other, and the router table cutter is far less useful, and crucially, the joints it makes will be weaker**.
With the router table, you'd be relying on your handling of heavy stock for accuracy, and even if you move the stock correctly, the joint will still be loose at the ends of the slots. This is because the biscuit system expects a cutter of much greater diameter to be used*, and the router cutters is too small to match the curve on biscuits (all bar the very smallest ones): so you have to make an elongated slot with rounded corners, and fit in a biscuit that is a segment of a circle. There are big gaps at the ends of the biscuits, and biscuit joints made on a router table rely a lot more on the glue's physical strength when it's set.
The other thing that spoils my day every time I've tried the router table thing, is the difficulty of keeping the stock absolutely flat when moving it during the actual cut. Any bump up or down, or tilting, or the cutter not being dead parallel to the table, will make the slot wider and the joint looser. So your workpiece has to be dead flat underneath, for the width of the router table plus a small bit, or you run it on a sled, such as a piece of hardboard, shiny side down. I know this is an issue, I've tried really hard to do it right, but I still end up with a loose fit.
And finally, the table system has big limitations in where you put your biscuits. Your slot has to be parallel to the table, obviously, but the offset for pairs of slots (or staggering them) is limited by how high you can lift the cutter. You cannot, for example, use biscuits to fit shelves to a carcase, as you cannot cut the slots in the carcase sides, only those in the ends of the shelves.
There's no such limit with a jointer. You can pack underneath it with spacer blocks of wood, or reference off the top face instead (with most designs). You can use it vertically (e.g. for those carcase sides for shelves), but mostly you slide it on your worktable. But you're always bringing the tool to the workpiece, and the reference part doesn't actually move when it's cutting the slot (or shouldn't). Its cutter matches the biscuits much better (although it depends on the biscuit size you use, obviously). You can even cut grooves and rebates with a biscuit jointer, and people have also used them for door trimming, I believe.
E.
*The biscuit system was invented by the chap who founded Lamello, although he must have been heavily influenced by the use of loose-tongues of plywood to edge-join boards, popular from the 1930s onwards. But I think his first jointers were based on small angle grinders. Even today, you'll find very similar gearboxes and motor units, the only difference being the pistons, blade guards and fence arrangements. The better ones do have a smaller motor though, which makes them a bit quieter and easier to handle (examples being the DeWalt ones, and my Makita). When buying for the long-term, I'd say a smooth tight sliding action is the most important thing (no slop), and DX probably second, but then I've only ever owned a whole one!
**When joining boards sideways to make table tops, etc, the strength really comes from the right glue and how well the two sides of the joint meet together and are cramped up. Traditionally tabletops have been made with no dowels nor tenons at all. The biscuits are helpful for alignment, and I'm not sure how much strength they actually add to the joint. Technically it is loose-tenon joinery, and I've never known a biscuit to fail, but when you disassemble mass-produced furniture from the 1960s and 1970s, it's rare to find biscuits anywhere - it's usually dowels or machine cut M+T of some sort,