Part of my build is very dependent on magic return. Both BoL and Honor the dead are extremely equal in primary heal but for my play style the magic return is extremely important. ESO uses smart heal mechanic and its easy to toss out a couple of single target heals when needed (burst). But if I need to heal 4 or 10 players all at once BOL is not going to cut the cake. If I have to heal the group I'm going to be casting ritual rebirth not BoL or HtD.
I know I have been criticized heavily for using it by some of the so called best PVP Templars in the game, but I just love the magic return and since I don't pay much attention to what others say, I'm sticking with what works for me.