True. Your mooring lines can be used for this. That's how we towed. The only thing greatly compromised in towing is speed. Even if you have the power for speed you are pulling the other boats bow. The higher the speed the more prone the towed boats bow would dig in seems to me. Propulsion is from the stern so the bow raises up & not pulls down.
I don’t know about these boats, but when possible, the welded towing-eye is placed on the stem or very bow, close to the waterline. A bridle is affixed to this eye, and carried to the bow deck, to make hookups easier. Then the pulling force is upward, not straight which as you said causes the towed boat to dig in, bow down.
It’s also hard keep the towed boat straight in line without swerving, especially a jet boat without true rudders to maintain alignment under tow.
I saw the towing bridle on the tow boat as a single line, where the towing line had an eye/thimble spliced to the end, and the tow line able to slide side to side on the transverse towing bridle. I don’t like that setup, I feel it is much inferior to a setup where the towing line is kept in a tight triangle, right on the centerline, the tow line not able to shift laterally in turns by the towing boat. When the turn is over, the towed boat gets squirrelly again, while the towing line is recentered. Just keep it centered at all times with an unshifting fixed tow bridle, if I described it well enough to picture.