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 It usually does, tho.

Simply being able to live in a low-crime neighborhood in a well-built house with safe transport and having good health care and healthy food already solves for most danger.

One of the things "beta males" excel at is "collective security". Pooling resources and effort to create a safe environment. 
 I'm agreeing with the original statement, I prefer the "betas" over the Sigma Male Bros, just adding the nuance between "saying" someone has those characteristics and actually "having" those characteristics.

Yes, the lowering of risk factors in the environment is an act of protection. All of that means nothing if the man isn't prepared to resist an attacker. 
 That's where I'm disagreeing. It has a protective value on its own, that is of higher practical use than mere brawn.

Even if he's "just" watching the kids or keeping house, so that you can focus on maximizing your own income, you and the children are MUCH safer with him, than without him, because his presence allows you to have an overall safer existence.