Apologies for not being clear. I don't think it's a battery concern, I was just stating Apple was cited as saying it was in the past. Not sure how they "got around" it this time, but that's a classic Apple response to "why don't we have this feature yet?" Questions.
Regardless, I agree with the sentiment that holding to see the video on the lock screen is basically pointless. I will likely enable the feature as a "why not?" decision, but I will almost certainly never use it.
For what it's worth, I like the idea of love photos, though maybe not for EVERY photo (hoping there is an easy way to delete the "live part" when going through my photo album), as I think it gives photos a bit of character. I've already been doing some burst mode photos which upload to google plus and google plus takes those and makes something similar to these live photos to review within the app or through your desktop browser. I don't do it ALL the time, but I've gotten some pretty cool burst "moments" that I enjoy going back and looking at from time to time.