This is AFAIK not a point where consensus will ever be reached.
What I think... Well... If the author manages to create a clear and relevant narrative to each of the branches, one where the branches are NOT interchangeable, but meaningful and Unique. I would say yes to hard branching. That rarely ever happens. What we do get is a rehashed story with different characters, sometimes even the same dialogues. That is why I have decided to give up on branching.
What I mean by that is, I play ONE branch. If they are all interchangeable, all planned to give you closure and satisfaction, it really doesn't matter which one you choose. I don't get MORE game by replaying, I get the same, just again and again.
Take for example: Where the Heart is. You can't have them all. At several points you need to choose, each choice locks you in a path, closing others off. You can replay to look for the other paths, but are you getting MORE game? No, you are just choosing the same with very slight differences, that in the end, CAN'T affect the main story. I simply gave up on that. Others don't.
Another example: Bare witness. This is what good branching looks like, each one is Unique. Each one expands your sense of satisfaction in a different manner. Do you get MORE game? No. You get to play longer, but the story is already over.
Another even: Freeloading Family. Story ends. Then you are given a list of possible endings to see. Each is varied, Unique, strong and can stand alone. You don't get MORE game, but you do get a lot of satisfaction from each ending (yes I am aware that Alice's ending is weird as fuck, thank you very much)
Each one of these handle the branching in a different way, there are more, many more, but these are enough to illustrate what I mean.
So, I do prefer soft branching, like Grandma's House. Or My Dorm. The branching mostly resides in saying Yes or No to the girls and to some (light) fetishes. The story, however little or not there is, moves along unperturbed. You don't get MORE game, just a customized experience.
The concept behind branching is still stuck in the "Choose Your Adventure" trope, the main problem with that is the fact that the story become thinner each time you branch it. To the point where there is really no story at all, just a load of branches that mean nothing at all.
Peace