indeed, it's not a perfect solution, but definitely better than having it on the power adapter.
you know that lots of power outlets are either on the ground or under the desk right? then whenever you want to plug in a monitor or projector, you need to get under the desk? just imagine if you are a businessman presenting your keynotes to a conference room full of people. you enter the conference room with your best suit, lay down your beautiful computer, grab a cable, then get under the table?!!!! What???!!! is it really better than a 'ugly' adapter
of course, it would be better if there is simply a HDMI-usbC cable, not adapter, just a simple cable, HDMI on one end and usb c on the other. it would be better if it can have integrated power supply trust me, there will be such cables in very near future.
plus, having a hub on the power adapter is extremely inefficient. i mean, you will have to carry this hub with you, regardless whether you need any of the ports, every time you wanna to have power outside.