If you can afford a Disney deluxe, then $35 Genie+ should not be an issue.The real steal is staying in one of Universal's deluxes and having the unlimited version of EP included in the room rate (which is still much cheaper than a Disney deluxe).
The deluxe Uni hotels (with Express Pass) start at $400/night. Five nights there is $2,000.
A value hotel room at WDW is about $120/night. Add in Genie+ (at $35) for four is $140/night. Total is $260/night. Five nights is $1,300. A $700 savings.
I take issue with the idea that staying at Uni Deluxe hotels with free Express Pass is always 'cheaper' than staying at WDW and buying Genie+.
The only way that happens if you're going to stay at a deluxe at either park. And if can afford deluxe prices, the extras should be also affordable in comparison to the cost of the room.
For now.