Well you can cover it up and it will keep the paint nice. But what good is nice paint if you can't see it?
BUT
If they salt the roads or you live right on the ocean, it's a no brainer. If you don't prevent chips, they will rust, and they will ruin your car.
Where I live we just don't have rust on cars, so it's a non-issue. I get chips on my cars, and I ignore the small ones and touch up the big ones. But in a lot of places it makes sense to protect the nose.