I liked them a lot and wish they'd leaned into them more rather than getting rid of them entirely. They were an idea lifted from games like FATE, but they always felt tacked-on in 5e rather than integral to the game like in the latter system.
I tried to make them a bigger part of my games, but it frequently was a struggle. While I am sorry to see them go, I can see why they chose to drop them.
They were always in a weird liminal space for me. If D&D weren't a monster-fighting game, they'd make sense. In a monster-fighting game, they're effectively vestigial or DOA.
Having a limit of one at a time really creates a dissonance between the mechanics, the RP, and the apparent intent of the mechanic.
The players who're really interested in roleplaying don't need a reward like inspiration to roleplay, though it is nice. But the mechanic actively disincentivizes them from RPing, or burning inspiration on literally every roll.
Players who aren't that into RP but want the reward will RP only as much as is required to get the reward. Once they stop being rewarded for the RP, because you've RP'ed "enough" to get the binary reward, they stop RPing.
So you have two sets of players, one RPing constantly and only being rewarded infrequently and the other RPing only as often as it takes to get the reward. Either way, the mechanic doesn't work to push the apparent goal of rewarding RP and trying to push RP in a monster-fighting game.
A mechanical reward for RP, I guess. Inspiration and BIFTs as per 2014, no thanks.
Something like DM Scotty's luck dice or the campfire mechanic from...somewhere. Is that Daggerheart? Something like tying rests to RPing, that would greatly increase RP.