Our use case for HVE isn't High Volume Email, but rather multifunction device scan-to-email via basic authentication. Currently, this is achieved using a licensed Exchange Plan 2 account with all services disabled except for SMTP Auth.
The 10 MB attachment size limit for HVE is a significant obstacle for our use case, hindering a seamless migration.
jim0thy raises some excellent points. It feels like this rollout is rushed, with the deprecation of SMTPAUTH and HVE entering public preview in the same month. We still don't have pricing information and now we'll be paying for a service that was previously included in a P1/2 license. Additionally, there's a lack of feature parity for customer use cases like attachment size and reply-to functionality.