Depends on many factors.
For example if you are on the south coast, where there is little variation in air temperature over the year, it will be less good value than in say the middle of Scotland, where you might see a much larger air temperature variation in winter, justifying the cost through the more stable ground temperature and it's influence on COP.
This is the biggest problem I have with heat pumps. They are not plug and play. When people want to replace their heating system they just want something that is guaranteed to work and not cost too much more than what they currently have.
But the sheer number of factors involved with trying to establish one will work well in your property or not means you have to be something of an expert to get close to being confident that it will. Or trust the installers. Who to date have been somewhat unreliable in making sure they are only fitted where they will really work (to be fair they are getting better).
Maybe a better way to subsidise them would be a government guarantee that guarantees your home will not cost more to heat than it does currently - if it does they pay out the difference, if it costs less then they take the difference. Of course it would need some thought to stop people from gaming it.