The twisting and vibration that a crankshaft can go through would tear your motor apart without one. If you look at a stock harmonic balancer you will see the outer ring is pressed on with a rubber gasket between them. This allows the outer ring to dampen the vibrations, hence its name.
Some of these may have large counter weights on them. for balancing purposes. Other crank shafts may be internaly balanced allowing the use of a balanced harmonic and flex plate.
the biggest diff in aftermaket is the containment of the outer ring. If you have ever had a stock style ring come apart, it can do some serious damage.
Jerry