I think this "jacking point" is interesting because it sure doesn't seem to be designed for any fore/aft loads in compression (as it would experience as a jack point). It does seem like it'd be effective under tension, such as when used to tie the car down. I have used it once as a jack point, but I have a rubber insert for my floor jack with a molded slot intended to "cradle" weld points and such...so I think it better supported this "jacking point".
Having said that, and I'm not minimizing the obvious danger to the user during the collapse of this tab...I think it's much safer having been collapsed. Once it's collapsed, nothing else can happen to it and I do think the subframe structure that is there is very likely sufficient to support the rear of the car.
I considered actually just cutting that tab off of our Pilot. I think I'd rather use that jack point without that tab, for this very reason. For those whose tab has already collapsed, besides being justifiably upset at Honda for advertising this as a valid jack point, I think I'd probably continue to use that area as a jacking point, confident in the notion that the weak link is now taken out of play.