Yeah mainly this, maybe overall champ belt does more harm that good but it makes the game more challenging too. Plus if you're looping on hardmode +1 flag doesn't really mean much.
also maybe it can help to get more time to do a challenge (brown ritual or the one of 2 rows of spikes), but I get that champ belt does more harm than good
Ah for brown ritual I just had one of the mask guys stand in-front on a Meat Cube and since they don't walk away until their mask is broken you have all the time in the world to use poop