What is the purpose of the hood?
technical purpose for the hood is to protect the fiber from getting broken.
Secondary purpose that many are using it for is to use a larger peep, and align the peep with the hood to center the peep.
The other comment is true that the eye instinctively centers the peep, but my cheek position changes when I change shooting position and thus so does my alignment of the front sight in the peep.
It is worth trying the hood and a larger peep to see if that helps give a better field of view.