Though it's good to know you can change the HUD tips manually through altering the .ini, a lot of people don't know how to or even that they could do this (like myself), so a nice in-game option would be very nice to have for those who are seeking to easily reduce HUD clutter.
Removing HUD elements is a disadvantage to the user, but offers more immersion. Giving an option is good for those who want it.Personally, I'd actually like for an option to remove all/or any HUD elements individually, like you could do in RO1.