I disagree. We are talking general comparisons to the best of my knowledge and yes the CHV2 is a "higher performance" (depending on what kind of performance you are looking for) wing than the HLV1. But this does not mean that it is "low" performance. I think it's a mistake to equate lower AR with lower performance. In my experience, some of the highest performance kites I've ridden have been in the same AR range as the HLV1 and I suspect that in the right hands it will be quite a sporty little rig.
In regards to a Manta/Access comparison. I think it's hard to quantify that comparison given how dated the Manta is and how many revisions the Access has had. A current equivalent to your comparison would probably be a SummitV4/AccessV7 which IMO = the Frenzy V10. The HLV1 is somewhat similar to the FRV10 but still very very different in AR and handling in direct side by side comparison. Initial impressions are that if both sizes are the same, the HLV1 has more grunt than the Frenzy. It will be interesting to see where the Blizzard V1 falls into the range as I suspect it will be more in line with what you described.
I have not installed the 5th line on the HLV1 yet. I should see the 5th line kits today. If so I hope to install one and see how it does sometime this afternoon. I have done comparisons in launch/relaunch of the HLV1 in both open and closed mode and honestly saw very little difference. IMO it was almost better in closed mode but the winds were pretty light and I don't think it was the best comparison.
Though I don't have pricing for a UL version currently, I agree we will likely see a UL option in the HLV1 at some point. Sure, the kite could benefit from a little weight loss. In smaller kites, I'm not a big proponent of UL versions as I just don't think the benefit vs. cost is there. (Unless the goal is compactability for travel.) Kites aren't cheap and UL is great if you can afford it and more importantly, afford to replace it due to the tradeoff in durability/longevity. For my tastes, I like durability. I love the R1V1 because it runs circles around the Chrono V2UL, even in light conditions and is made of standard material. But in the race kite arms race, it's not much use.
There seems to be a lot of hangup on the HLV1 intakes and the added weight that they offer. IMO and for my purposes, I don't think they add so much that it's worth worrying about and, the intakes are part of the design features that make the kite unique in its versatility and design goal. Take the R1 or Chrono or Sonic etc... They could also be made lighter by dumping the intakes they have and making them open cell. They would be like the Zeekai which is fine unless you are riding the water and dunk the wing.
There's a reason they killed the Zeekai and are making a new closed cell version.