So when a review channel goes and does lengthy and honest reviews of multiple brands of hardware, a consumer uses this resources to figure out what exactly they want to buy, clicks on the reviewers affiliate link to purchase, oh, thank goodness Honey is there to make sure the customer gets back 89 cents while it keeps the entire commission.
That is absolutely not ethical. And if it is legal, it shouldn't be.
Correct, the whole affiliate system is ethically dubious, and the idea that someone can be trusted to produce honest, complete information about a topic when their message is paid for is unrealistic. Meanwhile, paid shills crowd out every space, making it more difficult to find actual honest information. They reduce signal and increase costs for everyone. It also relies on pervasive non-consensual tracking.
Simple consideration: how likely is a shill to tell you that you could save that extra $.89 by buying it from a store through which they get no commission? By using Honey? If they know those things, only telling you about their worse deal is not honest. Someone who's job it is to sell you things can never be a reliable source of information.
I already block or avoid affiliate tracking when possible (so the seller can avoid a commission). I'm not going to install something like Honey, but I'm not seeing the problem with those who do. Affiliate marketers are basically arbitragers collecting on buyers who don't know that the seller is willing to take a smaller price (at best. They also work to convince people to buy things they don't need). Honey is an arbitrager that takes less of the spread. That's good for the market.