For Ulti to be comparable to or exceed HON, it needs to provide all La Premiere benefits no matter how you're traveling: Access to the La Premiere Lounge, Car Service, Private Security, etc. And to exceed HON, the car service should be guaranteed for all connections, not just apron arrivals or departures.
The current set of Ulti benefits are almost worthless to me compared to what I already get as Plat (and are also not really worthwhile compared to what I already get as Gold).