Even on the factory tour, the guide said the only thing the belt does is scratch the paint..
That's not only incorrect, but it's also customer choice and I think a few tour guides ought to remember they are employed to provide positive information as people on tours are potential customers.
The M3W belt affixes to the 'bonnet' or 'hood' in US parlance, and doesn't fix it to the car. It's cosmetic rather than useful, but I think they look cool and it's nice to have the choice.