One thing you should understand is that you're arguing semantics. Molotovs and Incendiary are essentially the same except Molotovs are cheaper in the long run, and works like an investment if you will.
Let's compare them actually. For 100 MP and 15 petrol, you get access to to 15 munition incendiary grenades which forces support weapon teams and other infantry to relocate, or lose a significant portion of their health or die.
Oberkommando Der West however pays around 30 munitions to throw a single incendiary grenade. Contrary to some people's belief, munitions aren't actually plentiful and you need to be smart when using munitions.
Volks can throw molotovs/incendiary grenades but at a large cost, since if you do decide to spend all your munitions on using molotovs, then you won't have enough for panzershreks to deal with light vehicles.
I'd personally want to take molotovs over incendiary grenades simply because you only have to invest 100 MP and 15 petrol, to get cheap anti-garrison/support team grenades.
When everything's said and done, they're both the same excluding the name. Molotovs are thus cheaper and better than incendiary grenades, but fanboys will argue otherwise and claim that molotovs are useless 
https://steamcommunity.com/profiles/76561197990448040
Don't worry, I have more hours than you in both CoH1 and CoH2. Unlike some posters here, I actually play the game and have been for a long time.
Molitov and incendiary nade are the same rin the same way thatBrit at tommies snare is the same as the panzer Faust... Completely ignoring the fact that getting molitov costs almost as much as a Wehr scout car the actual performance is about what you would expect from 15 mu.. Its animation is long enough that an mg can pack up and its range is short enough it doesnt have to. Compared to the incendiary nade where you can toss it in half a second, it will deal damage as it his and it can be thrown from farther away the molitov is GREATLY out classed.
The reason the volks nade is a better investment is because it works. 95% of the throws will connect vs an mg (even a maxim) additional problems with the molotov are the higher than normal target size om cons, the better supression on the mg42 amd incremental accuracy/aoe supression which punishes bigger squads harder. Its basicly the same thing as giving allies more AI vs axis smaller squads (or higher armour values vs garbage pen for axis) Its overkill.
Kinda like having cheap nades on a faction that has nothing else to spend muni on.... (as in the price of the moli doesn't matter, it could cost 45mu and the soviet would STILL float)
Also if you think volks nade and moli are the same in all but name shows you are delusional
Longer range and faster throw are incredibly noticeable differences, then the impact damage to boot...
For someone who plays as much as you you think you would notice these things...