If I was building a dedicated off road rig, I'd roll with different bumpers. For street use, well I'm not a poseur, so I'd stick with what came from the factory.
More mass means more damage, less yield, means more energy dissipated elsewhere in the vehicle. Adding weight to the Front will change how the sensors respond. IMO.
Also IMO There's a lot of Kool-aid involved in modern safety design, I survived a accident with serious injury even though the air bags didn't deploy, nor the On-star work as advertised. 45mph T-bone into a Jeep Liberty, that rolled a stop sign. Totaled both vehicles.
Well, I don't have the cash or space for a dedicated off-road rig. But my Tundra with Demello sliders and Exp One bumper was great on and off road. I ended up selling it and now drive a 200 series Land Cruiser (without armor for now).
I think the biggest downside is in a low speed impact with a large object (F-250, tree, etc.) you are more likely to get frame damage as you don't have the super low impact crush cans to project the frame (crush cans don't protect you, and were not designed to do so). Modern frames are designed to crumple. The biggest safety factor on impact to you is letting the frame dissipate the load and an aftermarket bumper won't change that. Again, the other issue is hitting a stationary object that has no give. In that scenario, I agree you could get hurt more. But when you have more mass, you may crumple slightly less, but the car you hit will crumple more.
And you are correct, more mass=more damage, but for the other driver. The more weight you add to your car makes it more likely that the other car will get damaged more.
Take crash test rating. I'd take a 4 star rated Tundra at 5700 lbs vs a 5 star rated honda civic at 2700 lbs any day of the week.
I know there aren't enough studies on this, but understanding physics and how crumple zones work, I'd be fine with a family member adding armor, and if I had to take a frontal impact, I'd take armor over non-armor 10 times out of 10.
A good buddy of mine is an EMT, and he told me he would never own a truck without a front armored bumper. Obviously that is just an opinion, but after some of the accidents he has seen, I will give it some deference.