I'd tend to agree with you but chariot and elephants need to keep fear or else they would both be worthless, chariots especially. Naked infantry is used in the back to promote fear, but also because it makes little sense to expose nude men to javelins or front line duty where armor clad infantry does much better. We could remove fear from most infantry units and either give them inspire instead in some cases, or just make them cheaper though. That is a matter for another discussion however.