From my experience in the field, whether you have the Protection Plan or not, it seems customers have learned that if they gripe enough or threaten to cancel services, Dish will waive any fees and fix the problem or set up a free tech visit anyway. So IMO, its a waste of money.
Box craps out, customer says, "Dish Network......it's your equipment, if you don't fix it for free, I'll cancel". Signal goes out, customer says, "Dish Network....you're responsible for getting me uninterrupted service, fix it for free or I'll cancel". Customer moves rcvrs around, customer says, "Dish Network, you're responsible for keeping me as a paying customer regardless of what I do...if you don't come fix it for free, I'll cancel and go to DirecTV! And while you're on the phone, give me some free HBO and a few PPV coupons". Dish has created this customer mentality of feeling like they can get everything for nothing. Look over most customer's account notes who have called in a service call and you can easily see 'complimentary waived' tech visit fees.