Don't hate it. Hulst seems to have a decent head on his shoulders regarding the balance between the creative side and market realities, and he seemingly did a great job as managing director of Guerrilla. The next few years are going to be crucial in seeing whether he was the right choice for WWS head, but between being partially responsible for getting Kojima in bed with PlayStation with the Decima Engine, and lacking Jim Ryan's foot-in-mouth disease, he feels like a strong choice on paper for the structure they're going for.
Can't argue with Nishino either. He's in a similar position to Hulst in that he's got a big moment coming up in the PS5 Pro that will put a lot of weight on his shoulders.
That said, I'm hoping that the reason they were chosen was that they had complimentary visions and have a good working relationship. The worst thing to come out of this is if they're trying to steer the ship in different directions.
Totoki being "Chairman of SIE" makes me think that he will still be the actual boss, but he is just delegating more to Hulst and Nishino.
This doesn't sound as good news, since it means that SIE is less independent
A chairman is different from a CEO. The chairman is essentially the representative of the board of directors. They have no major involvement in the day to day, rather they work to ensure a company meets the expectations of shareholders, which makes sense as a role for the chief financial officer since that's already part of his job.
He'll have the ability to pull rank if he feels that they're making a mess of things, but it's unlikely that most decisions will make it that far up unless it requires a major change in strategy or budget.