I'm starting to find that HUDs in games clutter the screen and take away from being fully immersed in the game. I like games that force you to pay attention to what's going on in the game and not numbers/markers on the edges of the display. What are some of your favorite games to play with no HUD? Here are a few of mine:
Astroneer - this game has tool tips on screen but that's about it. There isn't even an inventory, all objects are interactive and you can physically place them on your backpack.
Battlefield 1 - super gritty and immersive, but playing without a HUD really puts you at a disadvantage online.
Red Dead Redemption 2 - I liked that you could hide the HUD, but the mini-map was a tap on the d-pad away if you get lost. It was a super immersive experience!
Grand Theft Auto 5 - maybe not designed to be played without the HUD, once you get used to the layout of the city this becomes a lot easier, and you focus more on landmarks to navigate and again this really increased immersion. Sometimes finding things in missions wasn't obvious and required consulting the map but otherwise this was enjoyable.
This is a perspective I just don't understand, personally. I've seen people get super excited about being able to turn off the HUD in Souls games and then die because they didn't realise they were low on health. I'm sure it can be done well and I'm not judging at all, I just don't get it. I'd rather have a well made HUD (i.e. Not over the top) than nothing. I kinda wish I understood the appeal.
All that said, I am 10,000% in favour of giving users options in all software. So if you can turn the HUD on or off, add or remove details etc, all the better.
It certainly works better in some games than others! Usually a HUD element would need to be replaced with a different on-screen visual indicator...how well it works can vary a lot between games and genres.