While that may have been true in 2018, given that dGPUs are around the $250 mark (for the 3050) these days, an APU with on board HBM fills a price gap.
The cost of a Ryzen 5700G launched at $360. Though to be fair, it dropped to around $250 after a year, then down to $180 another year after that.
But we don't know what the market will be like. So let's assume AMD ships out a Phoenix desktop Ryzen 7 APU at the same price and it remains for a good bit. Adding HBM would dramatically add to the cost of the processor since HBM, as far as I can tell, is still really expensive. On top of this, you'd need to add another memory controller to the CPU and there's added complexity on the packaging to interface between the two.
So my WAG if you were to add say 4GB of HBM based VRAM would probably add another $100-$150 to the APU. Given this delta, you may as well save another $100-$150 and get a decent video card. You'd get close to the RX 7600 and it would put the smack down on the Phoenix iGPU.
EDIT: I wanted to see if I could make any educated guesses as to how well a 12CU RDNA3 GPU would perform if given better RAM. But unfortunately, the only card I could think of in recent memory that has vastly different memory but the same GPU core is the GT 1030. And while TechSpot benchmarked the DDR4 version and found it to perform half as good as the GDDR5 version, it got me thinking: what if the GT 1030 was designed with the higher bandwidth from the start? Plus if the DDR4 version was using the same DDR4 DRAM that you plug into a RAM slot, that's a problem since system RAM isn't designed in the same way as GDDR RAM is.
But I did notice that NVIDIA released an even lower version of the GeForce 10: the GT 1010. It had a GDDR5 version. The only semblance of a review or benchmark I could find was at
https://videocardz.com/newz/nvidia-geforce-gt-1010-has-been-tested-in-geekbench-spoiler-its-slow. Even with GDDR5, the thing is
hella s
low. An
Iris Xe of a i7-1165G7 outperforms it.
So yeah, memory speed may not be the cure-all to a really low specc'd GPU.