I have a hook because I already have been towed off a drag strip after torching my diff on another Camaro. And I also had that Camaro flat bedded off a road race track. I do not want the track staff to tow my ZL1 by hooking into something aluminum. So for me it's insurance.
And it looks cool to me.

And I do like it better in black rather than the red one I bought. Spray paint in a can is a miracle.
And if you don't track your car and you like the look, what's wrong with that? Should they take all the aerodynamic gingerbread off the car if they never exceed 100 mph to make use of it?
We used to make fun of "Ricers" didn't we? Well the ZL1 1LE and ZR1 are so Ricer. And they look pretty cool to me. It turns out Ricer works.
And as for Rustangers, who listens to that basket of deplorables anyway? Sadly they have to Fix Or Repair their cars Daily. I feel sorry for them.