Maybe (or maybe not), but why take the chance? And, as you note, it gives you another possible point to cut yourself away from an entanglement if needed vs. a double ender or bolt snap attached to metal on the housing.
Why wouldn't you use the leash with the paracord on the end that attaches to the housing? What is the downside?
As Stuart mentions, it does make it a little more tedious to don/doff the leash if you want to take it off the housing. I guess it is (very remotely) possible that it gets cut unintentionally. Anything else?
I can't see a real downside and, to be honest, only upside. Hence, the reason I switched to the version I have now.