Bacteria and viruses are not in the meat itself, but the meat can accumulate them on its surface when exposed to the air. That is why freshly cut meat has only a risk on the surface already exposed before the cut, and why mince has to be cooked thoroughly because it has so many surfaces. So "pink meat" need not be a food poisoning hazard.
As for whether meat if better barely cooked or cooked for ages, that is inevitably a question of taste. IMO too undercooked and it is unpleasantly stringy/chewy, whereas overcooked it has lost taste and texture. There's a huge range of "OK" in between. Personally I'd rather the waiter asked my how I wanted my veg cooked, than my meat. Especially as one restaurant seems to have a different idea of rare/medium/well done than another.