HTMs were a great theory but I never saw them function at more than 1 layer of hierarchy. So the “H” part was lacking.
Anyway since we know that any part of neocortex can be reached from any other within 3 hops, and there is more feedback connectivity than feedforward connectivity in nearly every part of neocortex, it should be called a heterarchy.
Hierarchy is a handy metaphor/mental crutch from understanding primate social organization, not necessarily how the brain works.