I like your balance.
My opinion, the hospitality here as a revenue generating element is quite overstated.
I don't think the club's reasoning for including it is Entirely revenue driven. Purely, because the proportion of it is just so small. If it was, they would imo have crammed far more hospitality in.
Think about it, how much extra revenue do 648 premium seats, out of 9518 in that whole tier, really bring a year. Say that '+' was a difference of £300 a year, from what others have mentioned elsewhere in the grounds, what's that 200k of a difference? Peanuts, in the scheme of that tier generating potentially 7-8m a year. The top part is more formal and probably pricier, but even then, it is only 5% of the tier.
My take is their inclusion is driven by the club wanting long term flexibility, ad much as a bit more income. And the chance to host a champions league final, which they have said before. Think uefa have guidelines on hospitality requirements, wouldn't surprise me if the club covered that here.
The hotel and f&b should more than pay for itself. The retail should cover the bulk of that building. So it isn't like the club are up against it here to recoup the whole investment through ticket sales.
I think people should be more open to the idea that the club are including these because they (rightlynor wrongly) think it is a good thing for the stand, rather than just a bit more profitable. Maybe Populous played a part in selling that to them, as jrb has pointed out they have done at spurs already, and the club have bought into it. Or maybe they gave the club exactly what they wanted.