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It will prevent Google from stealing your source code.
Keep in mind a lot of web design companies have one person who makes a Photoshop mockup of a page, and another person who codes that in html. If somebody likes your design, they don't need to see how it's coded to mimic it. And if you're talkign about using Javascript to construct the page, a lot of debuggers will still give you the full source tree.
The same basic problem exists in Photography; you can't completely stop people from misusing your photos. For people to be able to see them, first they need to download the photos to their local machine. I could disable the popup menu and overlay a clear gif over the image, but people can still pull it out of their cache.
The only surefire way to protect digital content is to only show it to people you trust.
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