The most useful property for me - Hampton Truckee - a very basic property, is now 54k per night in high season, with a current value of .0038 per Hilton point. That’s well below the .007 I normally get from marriott much less the .01-.02 we are getting at (former) SPG properties on our current Italian trip.
I am delighted that HH works for those who want free rooms in bakersfield, but not so good for high $$$ locations.