First off, being tanky very much will help you win fights, it means you can both outlast your enemy and you can afford to be more aggressive because you can afford to trade hits. Secondly, and more importantly in my mind, that sevenfold increase is only useful in combat, while Star-Cloaked Shroud is useful in a multitude of situations outside of combat. You may not be able to punch up so well, but its also much harder for others to remove you from the board.
Furthermore, punching up isn't actually all that important for us. Lord Hunger is a Progression-type Cursebearer, so long as he survives he will continue to grow until eventually the only thing he'd have to punch up to would be The Accursed. Survival in order to continue growing is far more important than just increased growth rates. It doesn't really matter if you strike faster if your life gets cut short before you can make use of such.
This is especially true when you consider the fact that the Lord Reaper build isn't going away. We'll be perfectly capable of grabbing it next time Hunger triggers most likely, something that is not true for Star-Cloaked Shroud.