I would agree, but the part you missed is that in hardcoe mode it doesn't let you fast travel very far if the travel will kill you.
How does that make this perk better? ( I didn't know that btw, that's cool.)
I couldn't stand being forced to walk in FO3, and no scrap to sell is going to make me walk / backtrack through a "metro tunnel / cave / etc...", I'll take the 40bottlecap hit and either come back later to get more stuff or just leave it where it was.
Edit: see you edited. Yeah, I mean the perk is just plain bad in my book, maybe people can explain why it's good though.