A big problem I think in all of this is folk isolate a player and then somehow attempt a valuation.
I see it differently.. Hogan is a forward...May is a back. I think we can all at least agree upon that.
Here's where I diverge from the groupthink model. I see it as a comparison of effects.
What does May added to our back arc do as compared Hogan being in the front arc ?
Add May to Lever, Hibberd , Jetta, Oscar and say Salem... thats formidable...take out May...not so much...as dynamic reverts back to before...somewhat problematic
Hogan in the fwd 50 with Tmac , Milkshake, Trac...any of Spargo... VDB etc etc...is also quite effective.
Take out Hogan...put in Weed...or someone else..its still reasonably effective, and possibly not so mono-centric in nature of attack.
So for mine the impact of May in far outweighs Hogan leaving
Have a suspicion out FD sees it similarly.