You are correct that Alaska elites will get “some” benefits through the status match. However, the status match is one sided and Hawaiian Airlines members get so much more and Alaska members basically got two upgrade certificates that they may or may not be able to be use.
As a 100k flyer of Mileage Plan I used to get automatically confirmed in Alaska’s version of premium economy at booking along with a good chance of an upgrade to first on flights from the west coast to Hawaii. Additionally, if the upgrade did not clear as a 100k you could preorder a free meal on the Alaska APP that they would give you in economy.
Now that Alaska plans to repurpose Hawaiian’s jets for long hauls out of Seattle, Alaska metal is not flying from San Diego (or other west coast) cities to Hawaii and instead they have allocated this to Hawaiian metal- as an elite on Hawaiian you only get “premium” economy on Hawaiian , if available at check in and you don’t get a free drink.
Alaska is a good airline, but I don’t fly them because they are on par with Qatar or Singapore Airlines. I fly them because there was a return on being loyal. However, as it stands now there is no substantial benefit to flying Hawaiian- if I have to pay to guarantee a seat in premium economy or for a drink I’ll fly United or American. Hopefully when they integrate the two programs it will be different, but I’m not holding my breath.