As far as I understand, all US water heaters with a heat pump also have a resistive heating element of similar or slightly lower wattage to the regular water heater.
They certainly are more complex - more complicated control plus essentially a pretty high power dehumidifier on top.
But they do have learned a lot and thus their construction and operation has improved immensely.
Many run the conventional heater for example if their is a high demand to keep more hot water ready.
Many also shift from heat pump to resistive heat for heating beyond 120F fron what I understand.
Many also offer options where the system can dynamically switch - for example run on heat pump during low demand times and switch over for higher demand times.
Or run on very low temps for most of the time, but boost up for higher temps for example on laundry day. Or as a hygiene program, some boost water temps above 150F periodically so you can run below 120F safely for the most time.
But one should keep in mind:
If it is in a HVACed space, all it does it use ambient air.
Then it only really uses excess heat during periods of no heating or air conditioning, lowering savings.
Further, if you heat with gas already, any monetary savings would be none anyway (at least for a few years).
So, optimally, it lives in a frost free outside space.
If you have an electric water heater and gas heat for what ever reason, you'd still save some as you'd indirectly use the gas heat in the winter months.
If it's an all electric home, your savings would be smaller in total, but still a bit.
So if you have an electric water heater AND can get a rebate through some way, ot would probably still make financial sense.
Just check around for offers and warrantys.