Arriving in a new city without internet it was great to have HH and be able to find 10 hostels and know they are going to be open. I guess McDonalds wifi etc. means Airbnb could have been a competitor, but the ease of finding accommodation reliably, of a reliable standard, and at more affordable prices meant we used HH far more than Airbnb.
Having said that, the times we could manage to find a room that was genuinely free, and appeared to be genuine people with a spare room, were some of the highlights of our travels. The people and the rooms were both fantastic, and it's this "home away from home" and social aspect I think Airbnb should be pushing. I think at the same time they should be working hard to remove the listings that I could best describe as dodgy guys trying to run a hotel out of an apartment building without adhering to local hotelier laws as we found these far too prevalent in some cities.