[MagicRat]

That 'factory crimp' is a method of hose construction that has been used in about a billion hydraulic hoses. I made up many of these for my hydraulic-powered construction equipment with no leaks.

New hoses really are not all that expensive. You could also go to a wrecking yard and pull a similar one off another vehicle.

The hose-clamp method will not last a long time. The risk of using clamps is when (not if) it blows off, the system will dump all its fluid all over the engine compartment as you drive.
If your exhaust manifold is hot enough, you will have an under-hood fire on your hands. At the very least, your power steering pump will run dry, which will destroy it internally in a minute or two, if left running.