Absolutely. I agree. There is a smaller form factor 970 that uses GDDR5. So SFF are not HBM exclusive AFAIK.
Yeah. Things like memory type, power consuption, and heat really don't matter so long as you're getting great performance.
Yes, SFF is not exclusive to HBM. Notice I said SMALLER form factor. Right now, HBM GPUs' size is mainly restricted by their massive cooler. Hopefully, 16nm GPUs would allow for much lower TDP so the need for massive coolers aren't needed.
I really think the advantage of HBM is more important in mobile and smaller form factor PCs. Considering that HBM consumes roughly ~40% less energy than GDDR5, it'll be more efficient. Less TDP means smaller PCs, less heat, and more efficient GPUs. A more efficient GPUs mean Nvidia/AMD can convert those spared TDPs from HBM to further improve performance (that's basically what happened with FIJI). Those are the benefits.
AMD is in a unique position to create a powerful APU that might be a perfect fit for mobile. Hopefully Zen is a leap forward in IPC and TDP. Imagine a Zen based CPU with a HBM Arctic Island based GPU on the same die. That sounds like a potential powerful combination. But, this is AMD we're talking about. So, one can only be hopefully.
With that said, I believe HBM is less important to high end enthusiasts because power consumption and form factor are less important to us. Most of us have gigantic PCs with massive PSUs to support the over the top overclocking and performance. We're in a different category.
Right now, HBM's bandwidth might not be needed. Maybe the next generation of GPUs (Arctic Island and Pascal) will take advantage of HBM's massive bandwidth.