Tldr:

1. Honey replaces affiliate cookies and affiliate links to theirs even if they did nothing to find or recommend the product. Thus, actual content creator who promoted that product get nothing from that purchase. (Even when honey finds no coupon code to apply, so they offered no value and stole the affiliate money)
2. Honey partners with businesses to only show limited discount to the user, thus the only selling point of honey which is finding highest discount with ease is no longer valid.