Do you believe that DDoS protection is effective?
Are there many webmasters who use it?
Most companies won't provide ddos protection because of cost, and if you get ddos'd your host will typical fold like a lawn chair and close your account.
Yes, as DDOS is one of the dangerous and malicious attacks in Online world and it can damage your site to a huge extent. Your site will be down for a couple of days till the attack stops and if your website is your source of income, then you might suffer huge economical losses. Hardware Firewall is the best solution for DDOS.
Hardware based solutions can be effective if you purchase the really high-end ones. Software based DDOS protection is rather ineffective unless you are experiencing a very small attack.