That's true when someone has become castrate resistant on LHRH, but some people are given bicalutamide for 2-3 years as primary HT, and I'm not aware there's any such effect then. I also have wondered why it is sometimes chosen in such circumstances.
One reason to use bicalutamide is that it's a daily tablet whose effect dies off quickly when you stop, so it was given in my case because a choice between HT and RP had not yet been taken for a long time due to extended diagnostic testing, and in the case of RP, I would stop it. When I chose RT, I then switched to LHRH.
While all the HT drugs have pretty much the same list of side effects, the likelihood of each one varies between them. Bicalutamide is infamous for causing gynecomastia (breast growth and pain), so much so that Tamoxifen is often given with it from the start (excluding periods < 3 months), whereas that's less frequent on the LHRH drugs, but can still happen.