I understand that it's a very weak way to add "security", but it does add a small additional preventive measure against script kiddies and other wannabe hackers that may mess with my network. I understand that the best thing I could do is turn off wireless altogether, but that's not an option since I'm using LIFX bulbs that communicate over a wifi access point.
I suppose the second best solution is a strong wifi password and using a good encryption method, but I'm hesitant to change my password and reconnect the bulbs because I was having major difficulty in adding them and now that everything is working as intended I'm worried that I wouldn't be able to connect them again. :/
So, yeah, I'd rather just hide my network name from the 400 kids across the street for now.