I don’t think it’s bad code. Hype is pretty light weight compared to what a typical Content Management System does to a server. However, just like Flash, it depends on the person creating the project.
As an example, Hype could be used to display map tiles. That would be a lot of web connections, which is not suited for a conventional web server. If you were going to have a million people hit that site, Hype is the wrong tool for the job.
For adding eye candy on a website, such as pretty banners or web games, Hype can be fine.
I think Hype could optimize the download a bit. I liked how Flash was a single file. A Hype project can contain hundreds of images. If you’re into server optimization, that’s a problem. Yet, Hype can still be OK in that situation, it just requires a little more work to optimize the project… such as creating sprite sheets.
Slack vs this forum is a good example. Slack puts the emoji in sprite sheets, makes them load quick. Try using the search for emoji option here on this forum… big difference.
But in general, static HTML is usually a trivial operation. I’ve been using Hype for years and I never once heard any server guy say to me, “Wow, dude, your Hype project is slowing down the server.” Photics.com has lots of Hype projects too. My site usually loads quick.