I have mixed feelings about that.
Personally, I found the mini HDMI ports themselves a downgrade. One is forever looking for adapters. However, having two displays is nice!
It boils down to whether someone is using the device like a computer.
The Pi 400 is a nice, respectable computer and I use one for development. Two displays makes sense and is high value.
Now you can absolutely use the device.
I have an epaper project in development. I have the epaper setup and attached to a Pi 3. That makes sense and it works well. Code output goes there and I have it all in one place.
I use it in two basic ways:
One is headless, using VNC to access dev tools and code located right on the Pi. I keep various wi-fi setups handy and can copy a new one onto the SD card if needed. Usually, I am powering the Pi with my laptop in that scenario.
The other is via plugged in displays with keyboard and mouse.
I do both of those with Pi 3 and 4 devices.
The Pi-400 needs the display adapter and though I have not lost or broken one yet, it seems to me simply attaching an adapter permanently to the computer would make a lot of sense.
This thread makes me want to 3d print a different case so that I can incorporate the adapters properly and just expose HDMI slots like we see on the earlier devices.
Finally, just a tip:
I will often use my laptop as a display for the Pi with one of those HDMI capture devices. Power the Pi with the laptop and bring up a display to work with.