I'm not sure what it says about the Netrunner universe that runners get "Priority" events (Fisk Investment Seminar, e.g.) while corps get "Terminal" operations. But certainly, the "Terminal" status of this card makes it a wholly different animal than it's close relatives SEA Source and Midseason Replacements.
SEA Source has been around since the core set, and is used for essentially one thing: Scorched Earth. Click one SEA Source, click two and three double Scorch is a kill shot against any deck not running protection. Tag n' bag, mate.
The other option used for tag 'n bag was Midseason Replacements. This is an interesting tradeoff. The activation cost of 5 is more restrictive (although the base trace strength is higher to compensate), and it requires an actual stolen agenda rather than just a successful run, making baiting plays harder. It was also higher influence, making it harder to squeeze into the home faction of murder (although putting murder in yellow remains easy).
But, Midseasons could be used in ways that SEA Source could not. SEA source only put a single tag on the runner--enough for Scorched Earth, but if the kill didn't immediately follow the runner would just clear the tag and move on. This meant that you needed to have money, SEA Source, and two Scorches in hand, all at the same time. But a successful Midseasons could easily dump 5 or more tags on the runner all at once. Clearing this many tags is essentially impossible (unless you meet the one person running Paper Tripping), guaranteeing that you would win when you do eventually draw it.
There are also other uses to a perma-tagged runner. Closed Accounts and The All-Seeing I let you cripple a runner's economy if it looks like they might be able to dig themselves out. Psychographics lets you speed out agendas. Resistor and Pachinko become much nastier pieces of ice. Lily Lockwell can find you your murder and still have tags left over to use it. There are lots of ways to creatively torture the runner once they go tag-me.
Hard-Hitting News fits in a weird place between these two. In terms of cost and trigger restrictions, it's very similar to SEA Source--one credit more expensive, but it has a 4-trace instead of a 3-trace and the run doesn't have to be successful to qualify. Except that it gives four tags instead of one.
And crucially, you cannot Scorch the same turn you play this card. Nor can you Exchange of Information or Subcontract. You play Hard Hitting News, pass turn. That means the runner has a full four clicks before you get a chance to actually make use of these tags. With that in mind, you can never use Hard Hitting News to kill a runner with no tags and 8+ credits. Even if you win the trace, they can always spend their next turn going "clear, clear, clear, clear". This means that its utility as a kill-enabler is severely limited. It's not enough to just be richer than the runner--the runner has to be actively poor. You can bring about that situation with oppressive cards like Reversed Accounts or advertisements in Spark, or raise the cost to 12 credits with SYNC, but this is a bit tricky.
No, in general, Hard-Hitting News is best used to crush a runner's tempo. Force them to clear those tags--losing a turn and spending 8 credits is a massive hit, and it will put the runner behind. Of course, they need some incentive to actually clear the tags--if you aren't running some form of punishment they'll just shrug and ignore them.
And you'll also need to actually win the trace. If able, a wise runner would gladly spend 8 credits to beat this trace, since they'd have to spend that anyway to clear the tags. Which means you're going to have to spend a minimum of 7 credits playing Hard-Hitting News against a runner with money; three for base cost, four to get the strength up.
So before you throw this card into a deck, you need to ask yourself--is my deck willing to pay 7 credits to make the runner lose 8? Or do I have a way to guarantee the runner will be broke, letting me stick the tags for cheap?