Players notice an extra 40 milliseconds, and they definitely notice a dropped match.
Game servers get hit by people who just lost, by rival communities and by anyone with a booter subscription and a free evening. Most of it is UDP, the same protocol your game runs on, so filters have to tell an attack from a firefight.
Network Protection keeps your game server prefixes behind the gates with filters tuned to your protocol. WAAP covers the launcher, login and store, where account takeover and credential stuffing happen.