Well, if coming from T5, you've arrived at Paddington 12 minutes quicker, twice as frequently, on HEx to start with. Connection to/from the subsurface is short at both Paddington and Kings Cross. I don't find Farringdon a fast connection once you've emerged from the depths of Crossrail and gone up and back down again to TL or H&C, and you don't have to cross a busy road from the far side lower level of St Pancras when you get there. By far my preference is to do those two short changes than have to sit on the Elizabeth Line with West London's finest for 40 minutes and still have to change at busy Farringdon. And if your timing wasn't lucky, you might have had to change trains back at T3 as well.
For the sake of argument, TfL journey planner gives a 57 minute end to end from Heathrow Terminal 5 to Kings Cross on both HEx to H&C and 57-60 minutes on EL to TL/H&C although courtesy of an unrealistic 0 minute connection at Farringdon and 12 minute connection to HEx to H&C at Paddington. In reality both of these connections are probably about 5 minutes. That's when the TfL planner isn't sending you to walk to Barbican to connect to the tube, which it often seems to.
You'd think that HEx reducing their fares on average, given that Elizabeth Line must whack the Heathrow premium on their fares, might be considered a Good Thing around here; I am confused as to how it's been used as another stick to beat them with. Don't forget that with Railcard discounts (everyone is entitled to a Network Railcard) the HEx fare is £16.65 for a fully flex single, compared to £12.80 for a point to point on EL. Outboundary travelcards with a railcard are obviously a much sweeter deal (Z1-6 £13 per day) but most EL passengers will use contactless from the Zones.
You and others here clearly, don't support a premium service for the four million a year who want it and will pay for it, or it taking paths out of Paddington that may or may not have any viability/available rolling stock for other services. There are plenty of declared and undeclared operational and ideological reasons why those arguing against it are doing so, and everyone is fairly entrenched in their positions. Personally, I think it's great there is the choice, the capacity and a competitive market that offers three differentiated routes to Heathrow - and provides vital redundancy in times of disruption.
In reality, I very much doubt either HAL or HMG will be discontinuing the Express service at the next renewal, or any time soon.