Honestly, I think that an albatross is more rare than a HIO. We're talking about either:

a) driving a par 4 and holing out.

or

b) holing out with your second shot on a par 5.

Much more rare, IMO, than a HIO. (I'd be happy to have either).

I guess the other argument is that you get smiles and bragging rights (and maybe a beer) for an albatross, you shell out for a HIO!