MCC can help with organization, but I would not treat it as real protection if the campaigns themselves are risky. What usually matters more is whether the linked accounts share the same weak signals — billing behavior, domain trust, landing page pattern, and how aggressive the launch profile looks. If one account gets hit because the setup is fundamentally fragile, putting everything under the same umbrella can just make the blast radius bigger.
I would separate the management benefit from the risk question. Good structure helps, but it does not replace account quality or a stable setup.