A heated vest or heated undergarment is 100% a luxury item and certainly for everyone, but I have to say it's REALLY nice. Yes, thicker undergarments are cheaper, but that would also mean extra led, which I would be hauling up and down steps, sometimes through a park or across a street, across a sandy beach, entering and exiting surf, and swimming it out to the dive site. Those extra pounds make a massive difference at the end of a long dive when I'm exiting through surf and hiking up stairs or a ramp. This is a thinner option.
For me, a heated vest isn't meant to replace a drysuit or insulation, but to add comfort and extend bottom time, without adding a lot of led. In the winter, I'm mostly diving 55-57 degree water with a drysuit. Without the heated vest this would be fine if my dives were only 50-70 minutes. I could even dive wet for 60 minutes and be fine. However, my bottom times are typically 80-100 minutes, not counting the 10+ minute swim out to the site, at which point I get cold. Heated vest solves this issue for me, and as mentioned, it's kind of luxurious to solve this withOUT adding a lot of bulk and led. I'm not doing multiple dives a day like I used to, but if I were, I could see it being massively helpful to maintaining core warmth.