You DEFINITELY need to replace it. Without the sound dampening affects as well as protecting the hood from the relentless radiant heat you will become a scourge to the landcruiser community, secondly the vehicle will begin the stall, run erratically and get horrible fuel economy. Why, you ask? You will disturn The Teq principle of synergy and simply pulling off parts that seem unnecessary is the same as using aftermarket parts.
Secondly as a consciencous lover of nature this part you are belittling plays a significant role in the campground ecology. The 700 pounds of iron in your 2f engine provides a cozy little bed for the local squirrels and chipmunks. As I am sure you have some common sense, cast iron makes for a very uncomfortable nest so the molded stuffing in your hood liner neatly placed under the carbeurator on the intake and exhaust manifolds. As you continue your adventure the smell of burning debris awakens your otherwise dulled senses and makes for a great story and a swift end to your fun little trip giving you another opportunity to work on your favorite vehicle...
Ditch it.