I can set adobe camera raw workflow to Hasselblad L RGB, and the profiles for lens vignetting and distortion correction are also there for the XCD lenses I have. Are the benefits of Phocus irrelevant now that we are able to work with other software in the Hasselblad workspace + lens corrections?
You'll keep the Hasselblad colour space, but not really HNCS. However, ACR and Lightroom will give you, "in most cases", images very, very close to the ones Phocus gives when keeping HNCS. For complex or subtle light conditions (e.g. different light sources), Phocus would be more precise. All depends upon your requirements.
In addition, lens corrections are not as good in ACR/Lightroom as in Phocus.
(But as far as I am concerned, I use Lightroom to open .3FR or .fff files !!)
Phocus doesn't need any kind of forced asset management to start to work with an image file like Lightroom, Adobe Camera RAW doesn't need it too.
Phocus gives the choice between totally different RAW engines, with also partially completely different tools algorithms. I use engine V1 for beauty/portraits and V3 for other works.
Simple efficient B&W conversion (Peter Coulson says he needs 8 PS steps to reach his 1 step Phocus conversion)
Tethered shooting id really dedicated to Hasselblad cameras
Full Compatibility between Phocus Mobile and Desktop with nice camera remote control on iPad.
In RAW file Integrated processing datas enabling simple simple transmission to another Phocus user