The Play Store is a nightmare. Try looking for simple apps, and you're inundated with ad-infested crud.
Until Google allows users to filter irritating ad-supported/spyware apps from their search results, the Play Store is largely unusable, and any competitor could come along and jump into the gap. However, I'm going to bet Huawei isn't any more competent than Google in this regard, and won't figure it out, and won't be any kind of a success.
Bypassing the Play Store means foregoing all of Google Apps as well. Many users will be irate about an Android phone that can't run the native gmail, youtube,etc apps.