Not necessarily. Yes, it's stronger than HP ever was (80BP vs fixed 60 in Gen 6+, or max 70 in Gen 2-5), but HP doesn't rely on the user committing Tera to get full benefits.
The list of Pokemon that realistically can benefit from using Tera Blast at base and then stacking Tera on top of it is pretty damn short. Specs Cyclizar (unlikely), Meloetta, H-Zoroark (super good), Farigiraf, and debatably Arboliva.
What's the common link between these Pokemon? They are all usually Specially focused, and have Normal as a base type. Why does this matter? It means that no matter what, outside of moves like Soak, Tera Blast will always be STAB. No Tera? STAB boosted. With Tera? STAB boosted. On top of this, since you don't need to commit Tera to use it as a Special move, it performs better than on a Pokemon like Ursaluna whom needs to commit Tera to make proper use of the move.