I think it might be. The only one I know of is the Newsboy Cap. Do you know of another hat that applies the ballistic weave?
But I have to say, it's nice to have the option of armored clothing for those of us not too "excited" by power armor. I sport a nice Faded trench coat (like the one Nick Valentine is wearing) with a military hat and patrol sunglasses (like you I figured adding the Newsboy cap would be too OP), and it looks good for a sniper, pistol with silencer character. I have 110/110 for physical and energy.
I'm looking for a full list of clothing that can use ballistic weave. If you have one, please do share.
I know of the suits, dirty or clean, the dresses, the toxedo, the trench coast, military fatigues, army fatigues, minutemen outfit, ????.
They should probably fix the issue for the cap, but not the clothes IMO. It gives us players who don't like sporting armor an option. Not realistic, but hey, it's Fallout.