You will still lose weight – in fact, most people would likely lose the same amount of weight as doing the diet with hCG. So then does it not matter? Why spend the money on hCG if your weight loss may actually be exactly the same right?
I would never personally do this diet without the hCG hormone in my system because I feel it is not safe – what the hCG does is not only change your sensation of hunger (this diet would feel pretty unbearable without hCG in your system at such low daily calories which could easily lead to an eating disorder), but I also feel it helps preserve your muscle mass and helps access your abnormal fat stores. I also think it may act as a protective mechanism for your metabolism. You no doubt care just as much about your ability to maintain your weight loss as losing it to begin with- being careful with metabolism and muscle loss are 2 very important aspects of being able to maintain post-weight-loss.
I hope that helps!