I'm also new to accruing Hhonors points. They are definitely worth much less than airline miles, i.e. getting 1 cent per point is a VERY good redemption whereas for airline miles that would be terrible. On the other hand the earning rate with this card is very good and much faster than for airline miles.
Keep in mind the gift card redemption level is 0.2 cpm, unlike 1cpm which is common with airline programs.
That said, if you do what you're supposed to do and use Hilton's frequent travel program for hotel stays with Hilton, the value proposition can be much better. It's still not great except for the very high-end properties though. This 60,000 bonus is more like a 20,000 airline bonus. Still nothing to sneeze at.
For my purposes AA miles are actually better for low and mid-range hotel bookings.