HBM provides higher bandwidth and lower power consumption so that last part is its saving grace. If you want to point fingers at AMD it should be for launching an upper midrange performing gaming gpu(Vega-non frontier) and sticking HBM on it causing the price to be higher than desirable. Gotta love that Raja guy.
So HBM is pretty cool, the way they chose to use it was less so. To me, it makes sense to use HBM in enterprise/prosumer cards, not so much in consumer cards where the price is very important.
They chose HBM not because they wanted to get less margin from using expensive memory but because GCN architecture is heavily bottlenecked by memory bandwidth when you add extra streaming processors into the chip