A receiver is reinforcing structure that can be protective. An installed ball mount (hitch) focuses crash/impact energy; whether that’s better or worse depends on your definition of better.
personally, it seems selfish to drive around with your ball sticking out....
"Selfish" - eh?
I run a Weathertech Wide Hitch Step on my receiver. Aside from protecting against "love taps" (by me, or TO ME) - it helps me get into the bed.
I't not steel - so it will shatter on a hard impact - and likely before transferring much energy into the frame. It's saved me some dings. I HAVE HAD hitches save me SIGNIFICANT COSMETIC DAMAGE - in low speed impacts (idiots not pressing on the brake and slow-rolling into me at a red light). I can't speak to catastrophic impacts personally, because I haven't been in one where this came into play.
Many states (not all) have passed "knee knocker laws" (usually nanny dem states) as a source of revenue. They come about, because some hapless azzhat wasn't paying attention and slammed into a drawbar on a parked car/truck (probably the idiot that drafted the legislation).
Your state may have one - my red-neck-*** state does not. Cop has to be having a pretty boring day to write you for it (or needs to meet his quota) - or uses it as PROBABLE CAUSE for a traffic stop (usually followed by the old "I detect the odor of marijuana in your vehicle sir - would you mind stepping out please" - LOL). No, I am not anti-cop (or anti-weed for that matter) - just anti- dumbass laws.
I drag a 25' Enclosed Toy Trailer - with a huge WD Hitch - so I leave mine OFF so I don't have to listen to it rattling around when not hitched - and put my Hitch Step on...
Rick