You may have to enlighten me on that one.
Back in the 3.5 era, clerics had the ability to Turn Undead, which they could use about four times per day (based on their Charisma). Nobody really cared about it, because the mechanics for turning undead meant it was kind of a waste of your action, and most games don't have a ton of undead anyway. It was technically a limited resource, but it was practically irrelevant.
That all changed when they introduced rules for Divine Metamagic, which allowed you to spend your Turn Undead attempts to apply metamagic effects to your spells, without needing to cast them in a higher-level slot. Instead of using a level 8 spell slot to Maximize your Flame Strike, you could spend some Turn Undead attempts in order to cast a Maximized Flame Strike in a level 5 spell slot. (Which you could do as a level 9 character, long before anyone even had access to level 8 spell slots). And just like that, Turn Undead became a valuable resource, which clerics could use to become even stronger than they already were.
The proposed rule is similar, albeit less egregious. If the warlock doesn't really care about Hit Dice, for whatever reason (maybe there's a cleric in the party who can heal them for free, or maybe their AC is high enough that they just aren't getting hit much), then this added rule would let them turn that extraneous resource into a valuable one.
It's possible that Hit Dice are extremely valuable resources in your campaign, even though I've never seen such a situation in the past. If that's the case, though, then the warlock probably won't want to make the trade; and if the warlock doesn't want to engage with this mechanic, then what's the benefit of adding it to the system?