I don't really understand what the big deal is about. I don't think for a second that hodinkee is biased in a VC, Zenith or Nomos article or -- at least -- no more than any other site, blog etc. that accept advertisers.
There is a clear division between editorials and business. Readers can doubt it but then you cannot really read anything (including newspapers) ..I mean if you fear an advertisers/business relationship bias.
Now to the watches: what is special about a Patek 1000+ limited edition where only the best clients could get a piece (or have to beg for it ?).
For the Zenith and Nomos I liked the design, the price was competitive and it was a democratic process: first come first served. Same with the Omega Instagram.
I think that what Hodinkee did was great for many watch lovers that couldn't find the same watch in the regular offering. For these readers that do not like it can simply move on. Similarly for these fearing a bias that, let's face it, does not really exist.
I recently bought something very special for my upcoming (March) birthday so I was happy that the newest Hodinkee iteration was not for everyone so it was easy to pass for me. But do I feel bad for these 36 that could get a watch they liked ? VC doesn't offer a grey dial steel version (that is substantially cheaper than the gold and platinum offering) so I don't see an issue with it.
And of course Hodinkee is a business and offering a collaboration is a great idea. A win win for readers that want something special and manufacturers to get more exposure!
Christian