I never played Monster Hunter (well, I played a bit, it really bored me for some reason I couldn’t quite pin down, maybe this is one of the things). I agree if all the delay means is that healing forces you to waste more time, it doesn’t like like it has much value.
I don’t care much about how some game mechanic supposedly “makes me feel” if there is no substance behind that feeling, though. If healing was exactly equivalent to a larger health bar and a game just made me go through the motions, I would definitely complain about that (not really ever seen this in practice though, the basic healing systems of every game all have the same couple of interesting properties I mentioned). I quickly see through flimsy tricks and my actual feelings are based on the underlying reality of what’s going on. That’s one reason I can’t stand Ubisoft games which are stuffed full of hollow mechanics.