I like the idea of a hunger system. Sometimes, I even like it in play. I think the idea of hunger instead of blood points is way more mechanically appropriate for a vampire.
Vampires aren't running on what is essentially mana anymore and feeding isn't an after thought. The primal hunger part of being a vampire is always at the forefront and something that a vampire has to worry about. You can't just walk into a night club anymore, find someone you want to feed on, and then take all but a single blood point and walk out. Hunting, and hunting methods, actually feel like something a vampire has to take time to plan carefully—less they fuck up or end up accidentally killing someone by taking too much blood. Granted that system sort of exists in V20 but it doesn't make much sense since as long as you don't take the last blood point the victim gets off with hospitalization and rest—even if that means 9/10 blood points have been drank by the vampire.
That means in a raw, no homebrew game, even the most wasteful of my players only ever needs to feed every two or three sessions—at least in the games I've played, and we're talking about high generation games where everyone has between 10-13 blood points. Maybe my players are too conservative and don't ever use disciplines or vitae enough, but that's fucking ridiculous. Half the time it feels like the characters aren't even vampires at all.
But feeding and hunger in play for V5 can definitely be annoying and can straight up kill a game if a storyteller isn't careful. You never, ever, want a situation where players are walking around with three or four hunger. That's only two or even less steps away from a hunger frenzy that can straight up ruin a game depending on where it's taking place. I've had games where players frenzied at important meetings with princes and whatnot by just casually trying to activate Blush of Life after forgetting they forgot to activate it earlier. It's been said before but V5 went to the complete opposite extreme with hunger to the point managing it feels like a tedious fucking chore that can lead to hour long scenes of players trying to pick people up at a dive so they can feed.