Yes, this topic has come up before several times. My own argument is a bit technical, that is if we attribute precession entirely to spatial curvature, why does it depend on both the PPN parameters beta and gamma, while spatial curvature only affects ##\gamma##?
If we assume the eccentricity e is << 1, the perihelion shift per orbit is proportional to ##(2 -\beta + 2 \gamma)/3##. (See for example MTW 1110). So we observe that there is some precession even if ##\beta = \gamma = 0##, which would seem to imply that ##\beta = \gamma = 0## is not the Newtonian limit, in which there is no precession
My current thinking on the subject, then, is that precession isn't due to a single effect. Perhaps I'm missing something, but I'd prefer to be cautious and say that it isn't clear what causes precession than to oversimplify the analysis.