It is very very easy to over bank and very difficult to hold a steady angle of bank.
HC the 365 is very similar in that respect but you just have to practise it rather than reverting to HDG all the time. I teach my students to do both and pick the most suitable according to what they are doing at the time.
There are plenty of situations (night circuits and NVD approaches for example as well as chasing an NDB in bouncy conditions) where the upper modes are little use until you are straight and level and using the HDG requires one hand off the controls to keep twiddling the bug - not really practical as it is too slow a process compared to just correcting it manually.
There are plenty of us dinosaurs who can appreciate the use and flexibility a good AP gives you and we utilise the upper modes constantly when appropriate - but not everyone spends hours in the cruise.