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I purchased an aftermarket hood and left it off. Looks much cleaner. As for heat, i would worry about the blazin' sun fading it. I have had mine like this for 3 years now, like new still
The primary purpose is for an engine fire. The thought is the retainers that hold the matt on the underside of your hood will release (i.e. melt), the matt will then fall and smother the fire.