False. Source code is also obfuscated using a simple key to avoid extracting the string from the executable.
"Dump that variable, and the source is recovered."
And how would they do that?
Yes, if they know how to run a debugger on an executable that is compiled without debugging symbols and can figure out how to get the data out of that symbol, then they can get your source. Do you know how to do that?
And regardless, I refer you to the perlc page itself which states:
Ignoring the practicality of hiding the code in most situations just because someone can get the code is like deciding to not lock your house anymore, just because locks can be picked.
Yes. Someone can get in. That doesn't mean there is no reason to try to make it difficult. I'm glad that you are (possibly) clever enough to get the data out of a perlc obfuscated program. Most people are not.
Again, if you don't want to use an obfuscator than don't. Many people find them useful. You may find them foolish. Some people may think it's foolish to lock your house up. That's fine as well.