It doesn't matter how much flex there is in the rack, all the loads are still reacted through the tow bar. In fact a very flexible rack boinging up and down undamped would make matters worse, not better.
Right. Following that logic, a block of steel is better than a collapsible/flexible crumple zone, a girder is better than a spring and strut and planes would have rigid wings.
F = m*a. Less a => less F, as the mass m is accelerated less than it would if it had a more rigid connection
T = F*r. (assuming a 90 deg. application of force) Less F => less T
Less T => less torque on the bolts holding the tow bar assembly, so lower shear torque on the bolts and less deforming action on the fastening points.
So no, it's not worse.