Statistically, you're correct. Optically, it's essentially Headhunter. Among those most visible(streamers), it's being played at a decent rate.
Octavian mentioned that he had asked his twitch chat whether Headhunter should exist. The answer was overwhelmingly no. He seemed a bit surprised but my reaction was kinda "duh". Chris says it's important to have chase items, but for people that will never have the time to get one or effectively use it, what does HH represent besides content you'll never get to experience?
I feel herald stacking is more of the same. We just need another Legion league for the masses to get mad about it. Fractured, free sextants, triple beyond, fully delirious, T19, 10+ T1 seed plot maps are kinda the same thing. Only it's obfuscated behind so much bullshit map-juicing setup that it's harder for the outrage train to get started. But don't mistake, HH(or a tricked out build later in the league) as a requirement to run those maps is warping the league economy just like it was in Legion with 5 ways.