To be blunt, you are right. Three-point restraint seat belts, with the chest straps are made that way for a reason and if you remove the chest strap, you don’t get the protection they provide.
Lap belts were good protection when they were all we had, but research has evolved and it’s been found that although lap belts do save lives they may also cause serious injury to the spine and internal organs in high speed accidents. If your car is in a collision and only your lap belt is on, your body will fold itself in half at a great force. You could end up with a Chance fracture of the spine, facial injuries from striking whatever is in front, and serious damage to the organs in your abdomen. In essence, when you remove the chest strap, you are turning your seatbelt into a lap belt.
For children, wearing seat belts – properly – should be a non-negotiable family rule.